srinivass (CA Final) (2466 Points)
02 September 2011Hi ,
Mr.X doing iron ore sale business....the supplying of iron ore through lorries is also carrying by the Mr.X...
1. he Hire the lorries which are using for Supplying but he did not deduct TDS........
this case is for FY 2008-09
Now he recieve one notice from DEPT.. for non deduction of TDS ...
so, please suggest me what are the further consequences.......what Mr.X to do for replying the notice.
plz repla asap...........very needed......thanx in advance for ur valuable sugggestions
Shah Tarun
(Student)
(800 Points)
Replied 02 September 2011
Sachin
(Chartered Accountant)
(419 Points)
Replied 03 September 2011
Dear Srinivas,
This is incomplete information. What is the notice issued by the Department. which types of Invoice raised by the department in this respect. my emil id is sachinagarwalcallb @ gmail.com
Thanks
Sachin Agarwal
praveen
(Chartered Accountant)
(6971 Points)
Replied 05 September 2011
One cannot do business with himself. So he cannot deduct tax on himself. You please write a letter to the NSDL / Income Tax stating that both the assessees are same and if you have paid sufficient income tax (Advance tax, SAT etc) please also send the computation of income and income tax returns.
It should not be a problem if the assessee has discharged his tax liability with interest applicable
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venkatesh
(chartered accountant)
(32 Points)
Replied 05 September 2011
since Mr.X has hired the lorries for carrying the iron ore, it seems he treated the lorry business as a separate concern from iron ore business. Hence, TDS should be deducted.
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