What will be the implications of non payment of TDS on rent for the whole financial year?.
I have paid the reduced amount to the landlord.
But , I have failed to pay the TDS amount to the government.
Whether I will be able to claim deduction in the p and l account?
2 Replies
shaikh muhammed firoz
(doing ipcc Read more at: http://www.caclubindia.com/user_signup.asp#.VTX5idKqpBd)
(59 Points)
Replied 19 August 2020
As per section 40ai if tax has been deducted but not paid to the government thn 30% of the amt will be disallowed as pr the provision of IT Act.
Santosh jaiswal
(281 Points)
Replied 19 August 2020
It will be disallowed 30 percent in Itr and under schedule OI and full amount need to show in tax audit under 40a(ia)
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