Hmingthanga Kipgen (Independent Practice) (48 Points)
18 November 2011I think the topic titles explain everything. Let's me explain the context of the title.
For example: Say I am the person reposible for deduction of tax at source for non-salary,
1. In which section of the Income Tax Act, tells that TDS is madate to be deducted by deductor?
2. What is the penalties for not deducting TDS?
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 18 November 2011
Hmingthanga Kipgen
(Independent Practice)
(48 Points)
Replied 18 November 2011
| Originally posted by : U S Sharma | ||
 |
https://www.taxprintindia.com/tds-rate-chart-11-12.htm |
 |
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 18 November 2011
| Originally posted by : Hmingthanga Kipgen | ||
|
|
Originally posted by : U S Sharma https://www.taxprintindia.com/tds-rate-chart-11-12.htm Please do not post irrelevant answer |
|
follow the link, sections are specified in the page with rate of TDS to be deducted, as the state govt is not individual / HUF , its mandatory for them to deduct the TDS as per the sections provided in the list.
Hmingthanga Kipgen
(Independent Practice)
(48 Points)
Replied 19 November 2011
Dear Sharma Sir,
I understand that TDS are to be deducted according to the rate give in the Section provided, but my query is, which Section tells that it is madatory to deduct the tax by the employer? and What are the consequence/penalties (Deductor) for not deducting TDS?
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 19 November 2011
1) non deduction of TDS makes the expenses disallowed at the point of assessment
2) seperate provisions are there for recovery of TDS due but not paid with interest and penalty
CAclubindia
