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Tds not deducted

520 views 8 replies

Shivani

Learner

1882 Points Posted on 29 April 2015

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

Replies (8)

CA Parth Rajendra Almaula

Chartered Accountant

85 Points Posted on 29 April 2015

Shivani,

Can you please clarify the status of 'X' as applicability of TDS depends on it...!!!

CA AnKiT BoHrA (AB)

Manager

25955 Points Posted on 29 April 2015

"Status of X" required to give a proper and correct answer dear

Shivani

Learner

1882 Points Posted on 30 April 2015

Take two cases X as an individual and X as a private limited indian company.

Shivani

Learner

1882 Points Posted on 30 April 2015

please help anybody

CA AnKiT BoHrA (AB)

Manager

25955 Points Posted on 30 April 2015

I had answered but my and is being deleted.. X as pvt ltd 1. X had to deduct tds on his own now and deposit it with interest also he can ask for the same from y 2.Yes he can deduct tds now X as individual Plz tell whether falls under audit or not

Shivani

Learner

1882 Points Posted on 01 May 2015

In Case 1, if X deposits TDS, then wont the government get tax twice. Once when Y deposited his tax before filing his ITR and second when X deposited it with interest.

Ankit, how can X ask for TDS amount from Y ! in case 1.