Tds
Manoj Deka
(Querist) 30 May 2012
This query is : Resolved
Dear Sirs,
Where as total turnover for the F,Y.2008 - 09 was Rs. 16,64,972/= but due to non receipt of TDS certificate for Rs. 10,000/= (Against a contract work for Rs. 5,00,000.) my friend submitted and claimed return of Rs. 26,489.00 showing total turnover of Rs. 11,13,415 instead of 16,64,972/= actual refund should have claimed for Rs. 27,489/= against actual turnover now the A.O. has furnished notice U/s 271(1)(c) of IT. As the amount Rs.16,64,972 including the 5,00,000/= was received from Govt. bills so evade of tax was not possible nor my friend motive, of course the lapses for turnover for Rs. 5 lakh are there for not receiving the TDS certificate till date. but income @ 8% don,t accede the 1.5 L limit of income for the F.Y 2008 - 09 so if any learned member can guide us or if there are any judgement in this type of cases are available! please help out.
Thanking you
Suhail A.Siddiqui
(Expert) 30 May 2012
this is a matter of concealment, since concealment is traced by ITO, you are liable for penalty. take care of Local Lawyer 9810043819
Shonee Kapoor
(Expert) 31 May 2012
Pay penalty.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
C. P. CHUGH
(Expert) 04 June 2012
Lapse is not as innocent as made by you becoz you friend has already raised the bill for contract and received payment. Non-receipt of TDS ifso facto does not provide you any immunity from penal action initiated by the AO. Hire a good lawyer and with his expertise he can sail you through.
