WE ARE MANAGING A TRUST WHICH HAS STARTED THE SCHOOL FROM F.Y. APRIL 2017 ONWARDS. BEFORE STARTING THE SCHOOL WE HAVE TAKEN A PROFESSIONAL CONSULTANCY FOR ADVICE ON MANANGING SCHOOL .INITIALLY THE PAYMENTS FOR CONSULTANCY WERE DONE FROM MY PERSONAL ACCOUNTS. THEN FROM JUNE 2016 TO FEB 2017 PAYMENTS FOR CONSULTANCY @ 75000 PER MONTH WERE DONE FROM ACCOUNT OF TRUST PER MONTH. TOTAL PAYMENT IN PREVIOUS YEAR FROM TRUST WAS 675000 + TAXES(SERVISE/CESS). BUT DUE TO SOME MISTAKE I APPLIED FOR TAN FOR TRUST IN THE MONTH OF MARCH 2017. (21 MARCH) AND I RECD TAN IN APRIL.
NOW I WNAT TO KNOW THE CONSEQUENCES SINCE I HAVE NOT DEDUCTED TDS IN PREVIOUS YEAR.
IS THERE ANY RELIEF SINCE I WAS NOT HAVING TAN NO.
THE CONSULTANCY HAS SHOWN THE PAYMENTS DONE IN PREVIOUS YEAR IN THEIR INCOME.
AS OF NOW SINCE I AM CONTINUING WITH CONSULTANCY I HAVE STARTED DEDUCTING TDS FROM THIS YEAR ONWARDS.
PLEASE ADVICE
THANKS
CAclubindia
