one of our client paid commission on april 2010 and no TDS is deducted till yet, so it is possible to deposit tax on his/her behalf to avoid disallowance of expenditure........if yes then how much interest and panelty is levied......?
7 Replies
Deepak Tapse
(Accounts Manager - Taxation)
(1771 Points)
Replied 17 December 2010
You have to deduct the tds and deposit to avoide disallowance and also have to file revised e-TDS. Interest 1% pm
S Sivasalapathy
(Job)
(262 Points)
Replied 18 December 2010
Ask them to deduct TDS in this month and pay with interest @ 1% pm. If return for the 1st quarter is already filed, return need to be revised.
vinay sharma
(CA final (Article))
(327 Points)
Replied 18 December 2010
thanks for you response but sir no tds e return is filed till yet bcoz no other tds was deducted in 1st Qtr.
so how much panelty is levied on delay of original return.......till date
surender
(Manager Accounts)
(149 Points)
Replied 22 December 2010
sir
how to do entry of commission received Rs.11016
and TDS deducted by company.Rs. 1102
vinay sharma
(CA final (Article))
(327 Points)
Replied 22 December 2010
bank A/c or party A/c ......dr. 9914
TDS A/c........dr. 1102
To commission A/c 11016
VANDANA
(MCOM II ICWAI INTER Working as an ACCOUNTANT BCOM 1ST CLASS)
(491 Points)
Replied 22 December 2010
| Originally posted by : S Sivasalapathy | ||
 |
Ask them to deduct TDS in this month and pay with interest @ 1% pm. If return for the 1st quarter is already filed, return need to be revised. |
 |
Interest rate for late payment of TDS has been revised......from 01st July'2010, NOW INTEREST IS @ 1.5% per month
& evn if return already filed.......... & if any changes occures in statement.........we must hav to file a REVISED RETURN
VANDANA
(MCOM II ICWAI INTER Working as an ACCOUNTANT BCOM 1ST CLASS)
(491 Points)
Replied 22 December 2010
If return not filed on time.....panelty for late filing of RETURN is - 100 rs per day from the due date to date of actually filing a return
Recent Topics
- SECTION 148 PROCEEDING
- GST AUDIT 01 - NOTICE
- Capital gain purchase date
- Transmission of deceased's shares in physical form
- Income tax notice but unable to file updated retur
- Income tax depreciation deductions
- GST Notice (Under Section 73)
- Asset Declaration in ITR2 for flat purchased in jo
- Active pan but invalid
- SECTION 128A For those who filed appeal and order
Related Threads
Trending Online Classes
-
PF & ESI Course - Labour Code 2019 Along with Examples and Case Studies
Mr.Balamurugan Ranganathan13 March 2025
CAclubindia
