Tom S Peter (Article) (148 Points)
19 August 2011Dear members,
I'm having a doubt on deduction of TDS.
Consider the scenario,the accountant has omitted to deduct tax on a party for whom payment was made on November.
Later the auditors pointed it out before finalisation of accounts.What all procedures has to be done by the company inorder to avoid disallowance?
Pls reply....
valji
(Accounts manager-MBA)
(2150 Points)
Replied 19 August 2011
YOU HAVE TO PAY TDS BEFORE FILIING OF RETURN WITH 1% INTEREST P.M FOR DELAY IN DEDUCTION 1.5 INTEREST P.M FOR DELAY IN DUE DATE OF PAYMENT
Tom S Peter
(Article)
(148 Points)
Replied 24 August 2011
Was there any change in the interest rate of late deduction?
Whether the return on TDS has to be revised?
Then sir pls reply to doubt regarding disallowance...
valji
(Accounts manager-MBA)
(2150 Points)
Replied 25 August 2011
if you pay TDS before filing of return with above interest then expenses are allow otherwise disallow
CA Mukul Mittal
(CA in practice)
(384 Points)
Replied 03 October 2011
| Originally posted by : valji | ||
 |
if you pay TDS before filing of return with above interest then expenses are allow otherwise disallow |
 |
agreed
CAclubindia
