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TDS ON Commission

Gurmet Siingh (Chartered Accountant) (413 Points)

03 October 2007

Can i make payment of Tds on commission next year if i have forgotten it the previous year?

any penalty?

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4 Replies

Anand (481 Points)
Replied 03 October 2007

Yes you can but you have to pay along with interest and you can claim the commission paid only in the year in which you have deposited the TDS amt with the Central Govt. Penalty is levied only buy the Assessing Officer.

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CA Pravas (Job) (185 Points)
Replied 03 October 2007

Yes u can,but the expenses is allowed in the year in which u pay the tds along with intrest.

CA Pravas (Job) (185 Points)
Replied 03 October 2007

Yes u can,but the expenses is allowed in the year in which u pay the tds along with intrest.

MAHENDRA IYER (SERVICE) (315 Points)
Replied 03 October 2007

You need to make the payment alongwith interest. There is no penalty. The relevant expenses will be allowed in the year in which tax deducted has been paid.