• TDS deduction

I have recently hired a consultant for advisory purpose at my startup, and as per IT rules have been making TDS deductions. However, it has come to my notice that those deduction haven't been submitted. I need help in this regard.
Asked 6 years ago in Income Tax

Deposit them now with the interest and file the TDS returns.

Lakshita Bhandari
CA, Mumbai
5687 Answers
910 Consultations

5.0 on 5.0

Since when have you been deducting TDS?

Lakshita Bhandari
CA, Mumbai
5687 Answers
910 Consultations

5.0 on 5.0

Hi,

Sure, we can help you in filing your TDS returns.

Please reach out to us at

Abhishek Dugar
CA, Mumbai
3576 Answers
183 Consultations

4.8 on 5.0

Interest shall be at the rate of 1.5% per month from the date at which TDS was deducted to the actual date of deposit. Note, that this is to be calculated on a monthly basis and not based on the number of days i.e. part of a month is considered as a full month.

Also, due date for TDS return for the quarter ending was 31st July. So a late filing fee would also be applicable.

We may help you with return filing.

Lakshita Bhandari
CA, Mumbai
5687 Answers
910 Consultations

5.0 on 5.0

NOW PAY IT WITH INTEREST

Shiv Kumar Agarwal
CA, Delhi
489 Answers
74 Consultations

5.0 on 5.0

Hi,

One tax is deducted and deposited with the Government, you will have to file TDS returns regularly. The due date of the return for the first quarter (April to June 2017) has just passed by. You can file it belatedly now.

Do let us know in case you need any further assistance.

Regards,

Keerthiga Padmanabhan

M.Com., CA, LL.B

Keerthiga Padmanabhan
CA, Greater Mumbai
784 Answers
27 Consultations

5.0 on 5.0

Hello,

Could you please clarify as to what do you mean by haven't been submitted. As to they are not yet paid to the government or the returns have not been filed.

Trust this clarifies your query.

Feel free to call / get back in case of further clarifications.

Thanking You.

Regards,

Rohit R Sharma

BCOM, ACA, LLB-GEN, CERT. FAFP

Rohit R Sharma
CA, Mumbai
2104 Answers
95 Consultations

5.0 on 5.0

Ask a Chartered Accountant

Get tax answers from top-rated CAs in 1 hour. It's quick, easy, and anonymous!
  Ask a CA