TDS Query

16 May 2017

my client forgot to deduct TDS on payment of 200000 to a professional ... the same can not be deducted now .. what can be the possible consequenses ?

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5 Replies

sowmya (audit assistant) (228 Points)
Replied 16 May 2017

better to pay TDS u/s 194J @ 10%. other wise the expenditure for which the payment has been made will be disallowed u/s 40A

CA AnKiT BoHrA (AB) (Manager) (25955 Points)
Replied 16 May 2017

yeah.. why not possible to pay now.. you can pay it with interest now na

suresh sharma (Asst.Manager-Taxation) (34 Points)
Replied 16 May 2017

You can pay the tds untill the due date of your company income tax return by 30th Sept 2017 than your expenditure will be allowed in itr

manoj (student) (5205 Points)
Replied 16 May 2017

YOU CAN PAY NOW AND SHOW GROSS AMOUNT IN YOUR BOOKS

AMOUNT PAID PLUS TDS

Venkat koushik (Hyderabad) (47 Points)
Replied 17 May 2017

you can pay before filing of income tax returns so that there won't be any disallowance under sec 40A

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