Dear Friends
Case 1
X had to pay rent to Y Rs. 20000. He does not deduct TDS at all for any of the months during the PY 14-15. Now Y files his ITR after depositing his income tax liability.
What are the consequences for X as he has not bothered to deduct any TDS at all during the PY14-15.
Case 2
X had to pay rent to Y Rs. 20000. He does not deduct TDS for the month of May 2014 and pays rent to Y full 20000 without deducting any TDS.
Can he deduct the TDS for the month of May while making due the rent to Y for the month of June. i.e. for the month of june can he deduct TDS for the month of june and also the month of may which he forgot to deduct earlier?
Regards
shivaniadream @ gmail.com
CAclubindia
