{"id":2586,"date":"2019-11-08T13:09:27","date_gmt":"2019-11-08T07:39:27","guid":{"rendered":"https:\/\/aktassociates.com\/blog\/?p=2586"},"modified":"2019-11-08T13:09:27","modified_gmt":"2019-11-08T07:39:27","slug":"consequences-for-tds-non-compliance","status":"publish","type":"post","link":"https:\/\/aktassociates.com\/blog\/consequences-for-tds-non-compliance\/","title":{"rendered":"Consequences for Tds Non Compliance"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >In this article, we will discuss about...<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #1e73be;color:#1e73be\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #1e73be;color:#1e73be\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/aktassociates.com\/blog\/consequences-for-tds-non-compliance\/#Brief_Discussion\" title=\"Brief Discussion\u00a0\">Brief Discussion\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/aktassociates.com\/blog\/consequences-for-tds-non-compliance\/#Disallowance_of_expenditure_under_section_40ai_and_section_40aia\" title=\"Disallowance of expenditure under section 40(a)(i) and section 40(a)(ia)\">Disallowance of expenditure under section 40(a)(i) and section 40(a)(ia)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/aktassociates.com\/blog\/consequences-for-tds-non-compliance\/#Demand_Raised_us_2011_of_the_Act\" title=\"Demand Raised u\/s 201(1) of the Act\u00a0\">Demand Raised u\/s 201(1) of the Act\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/aktassociates.com\/blog\/consequences-for-tds-non-compliance\/#The_interest_levied_us_2011A_of_the_Act\" title=\"The interest levied u\/s. 201(1A) of the Act\">The interest levied u\/s. 201(1A) of the Act<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/aktassociates.com\/blog\/consequences-for-tds-non-compliance\/#Levying_penalty_us_271C_of_the_Act\" title=\"Levying penalty u\/s. 271C of the Act\">Levying penalty u\/s. 271C of the Act<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/aktassociates.com\/blog\/consequences-for-tds-non-compliance\/#Penalty_us_271H_for_late_filing_or_non-filing_of_TDS_statement_%E2%80%82\" title=\"Penalty u\/s. 271H (for late filing or non-filing\u00a0 of TDS statement) \u2002\u00a0\">Penalty u\/s. 271H (for late filing or non-filing\u00a0 of TDS statement) \u2002\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/aktassociates.com\/blog\/consequences-for-tds-non-compliance\/#Sec_234E_fees_for_late_filing_of_TDS_Statement\" title=\"Sec. 234E( fees\u00a0 for late filing of TDS Statement)\">Sec. 234E( fees\u00a0 for late filing of TDS Statement)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/aktassociates.com\/blog\/consequences-for-tds-non-compliance\/#Section_272A_2k_-Penalty_for_non-filing_of_TDS_returns\" title=\"Section 272A (2)(k) -Penalty for non-filing of TDS returns\">Section 272A (2)(k) -Penalty for non-filing of TDS returns<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Brief_Discussion\"><\/span><b>Brief Discussion\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A various provision has been laid down under the <a href=\"https:\/\/aktassociates.com\/blog\/section-143-2-of-income-tax-act-1961\/\">Income Tax Act, 1961<\/a> regarding deduction of TDS when the amount exceeds the prescribed amount under the act. Numerous section has been enumerated.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-2587 aligncenter\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/11\/Consequences-for-Tds-Non-Compliance.png\" alt=\"Consequences for Tds Non Compliance\" width=\"700\" height=\"400\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/11\/Consequences-for-Tds-Non-Compliance.png 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/11\/Consequences-for-Tds-Non-Compliance-300x171.png 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/11\/Consequences-for-Tds-Non-Compliance-20x11.png 20w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">As we are well aware of many of the basic provisions of TDS under Income TAX, we tend to ignore the consequences of these provisions and we also tend to forget this. The main Provision must be adhered with the provision of TDS Law, if non-compliance made then consequences of not deducting it on time, or deducting but not paying it to the government before the due date will be hard.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Disallowance_of_expenditure_under_section_40ai_and_section_40aia\"><\/span><b>Disallowance of expenditure under section 40(a)(i) and section 40(a)(ia)<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">When the <\/span><span style=\"font-weight: 400;\">payments made to the resident, then Tds is required to be deducted if it crosses the threshold of the prescribed section thereof.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If TDS is not deducted then 30% disallowance is made as a claim of Expenditure of Payment in the Profit and Loss Account.<\/span><span style=\"font-weight: 400;\"> However, the amount of disallowed will be allowed as a deduction in the subsequent previous year in which TDS is paid to the credit of the central government.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Demand_Raised_us_2011_of_the_Act\"><\/span><b>Demand Raised u\/s 201(1) of the Act\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">When the person is liable to deduct TDS\u00a0 who has failed to deduct whole or part of TDS or after deduction fails to deposit whole or part of the TDS. He shall be treated as assessee in default. However, in the following cases, the assessee will not be treated as Assessee in Default. That cases are as mentioned below, that is the assessee:-<\/span><\/p>\n<p><span style=\"font-weight: 400;\">(i)\u00a0 He has furnished his<a href=\"https:\/\/aktassociates.com\/blog\/income-tax-return-filing\/\"> ITR (return of income)<\/a> under subsection<\/span><span style=\"font-weight: 400;\"> 1 <\/span><span style=\"font-weight: 400;\">of section 139;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">(ii) All such sum required for calculating\u00a0 for computing income in such return of income must be taken by him; and<\/span><\/p>\n<p><span style=\"font-weight: 400;\">(iii) All the relevant tax has been\u00a0 paid due on the income\u00a0declared\u00a0by him in such return of income,<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Further also provided that the person furnishes a\u00a0 prescribed certificate\u00a0to this effect from an\u00a0accountant \u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_interest_levied_us_2011A_of_the_Act\"><\/span><b>The interest levied u\/s. 201(1A) of the Act<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The person who is liable to deduct TDS but\u00a0 does not deduct the whole or partial amount of the tax or after deducting fails to pay the whole or part of the tax as required by or under this Act, he liable to pay simple interest,<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0(i) at one percent for every month or part of a month on the amount of such tax from the date on which such tax was deductible up to the date on which tax was required to be deducted; and<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0(ii) At 1.5% for every month or part of a month on the amount of such tax\u00a0 that will be levied from the date on which such tax was required to be deducted up to the date on which such tax is actually paid,<\/span><\/p>\n<p><span style=\"font-weight: 400;\">and such interest shall be paid before furnishing the TDS statement.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Levying_penalty_us_271C_of_the_Act\"><\/span><b>Levying penalty u\/s. 271C of the Act<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">This section levy penalty to the extent of Tax amount in default, not exceed with this limit thereof.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Penalty_us_271H_for_late_filing_or_non-filing_of_TDS_statement_%E2%80%82\"><\/span><b>Penalty u\/s. 271H (f<\/b><b>or late filing or non-filing\u00a0 of TDS statement) \u2002<\/b><b>\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The penalty of the sum which shall <\/span>not be less than ten thousand rupees <span style=\"font-weight: 400;\">but which may extend to one lakh rupees.<\/span><\/p>\n<h2><a href=\"https:\/\/aktassociates.com\/business-compliance\/tax-compliance\/tds-return-filing\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-2319 aligncenter\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/TDS-Return.png\" alt=\"TDS Return\" width=\"700\" height=\"150\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/TDS-Return.png 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/TDS-Return-300x64.png 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/TDS-Return-20x4.png 20w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"Sec_234E_fees_for_late_filing_of_TDS_Statement\"><\/span><b>Sec. 234E( fees\u00a0 for late filing of TDS Statement<\/b><b>)<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Sec 234E levy Fine\u00a0of Rs. 200\/-\u00a0 for default in filing statement for every day during which the failure continues will be levied.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Section_272A_2k_-Penalty_for_non-filing_of_TDS_returns\"><\/span><b>Section 272A (2)(k) -Penalty for non-filing of TDS returns<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A sum of one hundred rupees for every day during which the failure continues shall be paid by the Doctor.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brief Discussion\u00a0 A various provision has been laid down under the Income Tax Act, 1961 regarding deduction of TDS when &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Consequences for Tds Non Compliance\" class=\"read-more button\" href=\"https:\/\/aktassociates.com\/blog\/consequences-for-tds-non-compliance\/#more-2586\">Read more<span class=\"screen-reader-text\">Consequences for Tds Non Compliance<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":2588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Consequences for Tds Non Compliance AKT Associates<\/title>\n<meta name=\"description\" content=\"A various provision has been laid down under the Income Tax Act, 1961 regarding deduction of TDS when the amount exceeds the prescribed amount under the act. 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