TDS on contract not paid, Income Tax

[DEEPAK SANE]

i have deducted TDS on contract payment under section 194 c on 31-3-2012 but not paid before 30-4-2012 what is effect other tan interest , what is effect of section 40 a (ia)

Posts / Replies

[RAM BANSAL]

The TDS can be paid up to the due date u/s  139(1). of the IT Act, 1961. of filling of the return. No disallowance is made u/s 40 a (ia) if the TDS is paid on or before the due date specifired in section 139(1) .

[Vivek Harsh]

if the amount is not paid within due date under 139(1) i.e upto 30 sep, no deductuion shall be allowed in current year.