Vineet Agarwal (Chartered Accountant) (87 Points)
15 September 2011Hello everyone,
Can anyone help me in this query:
M/s X Pvt.company has not deducted TDS on rent for the use of Furniture.But at the same time it is deducting TDS on Rent for the use of Flat.
What will be the consequences if M/s X Pvt. Company dont deduct TDS?
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 15 September 2011
The normal consequences will follow. Refer 201(1A). You need to pay interest, AO of TDS ward can impose penalty (discretionary) and the expenses ought to be disallowed in your assessment of concerned FY.
Regards
valji
(Accounts manager-MBA)
(2150 Points)
Replied 15 September 2011
AGREEE WITH ABOVE EXPENSES ALSO DISALLOW & ADDED BACK TO INCOME,PENALTY+INT
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 15 September 2011
| Originally posted by : valji | ||
 |
AGREEE WITH ABOVE EXPENSES ALSO DISALLOW & ADDED BACK TO INCOME,PENALTY+INT |
 |
agreed
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