Deduction of TDS on Prov march ending its compulsory.
what is impact if not deduct.
4 Replies
CMA. CS. Sanjay Gupta
("PROUD TO BE AN INDIAN")
(114225 Points)
Replied 28 March 2020
If you are making provision for expenditure then you need to deduct and deposit TDS at applicable rates, failing which such expenditure will be disallowed.
Spurto Consultancy Services
(Consultant)
(1891 Points)
Replied 28 March 2020
Yes TDS have to be deducted on the provisions made.
ramesh
(service)
(115 Points)
Replied 29 March 2020
If you fails to deduct Tax at Source then as Section 201A following will be consequences
Non-deduction of TDS, either in whole or part
1% per month
From the date on which the tax was to be deducted to the actual date of deduction
Non-payment of TDS (after deduction)
1.5% per month
From the date of deduction to date of actual payment
Non-deduction of TDS, either in whole or part
1% per month
From the date on which the tax was to be deducted to the actual date of deduction
Non-payment of TDS (after deduction)
1.5% per month
From the date of deduction to date of actual payment
kiran
(accountant)
(444 Points)
Replied 29 March 2020
If exp provision Rs.45000 of march ending Tds deduct 10 % on it but actual bill received lower amount in April of Rs.38000 how treat & if bill received higher amount of provision Rs.50000
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