WebMay 22, 2024 · TDS statement for TDS deducted on payment made to non-resident needs to be submitted in Form 27Q. Consequences of non-deduction or non-payment of TDS: Disallowance of expense u/s 40(a)(i): In case the expense is done for business purpose then 100% of such expense shall be disallowed as compared to 30% in case of … WebMar 10, 2024 · What are the consequences of non-complying with Section 195? If TDS is not deducted, then expense will be disallowed under section 40 (a) (i) If TDS is deducted but not paid within the time limit then interest @ 1.5% per month or part of the month will be levied from the date of the deduction to the date of deposit.
Recent Legal and Practical Issues Pertaining to TDS & TCS
WebThe issue of TDS U/s 195 was before ITAT, where the AO disallowed the amount under U/s 40 (a) (ia) for non deduction of TDS, but the assesee contended that it… WebThe issue of TDS U/s 195 was before ITAT, where the AO disallowed the amount under U/s 40 (a) (ia) for non deduction of TDS, but the assesee contended that it… street man fighter kprofiles
Section 195 of Income Tax Act - TDS u/s 195 - Tax2win
WebThe issue of TDS U/s 195 was before ITAT, where the AO disallowed the amount under U/s 40 (a) (ia) for non deduction of TDS, but the assesee contended that it… WebApr 12, 2024 · Updated On - 02 Apr 2024. The section 195 of the Income Tax Act, 1961 is all about the Tax Deducted at Source (TDS) for non-resident citizens of India. Section … street man fighter ptt