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Q. > Please Help: Taxation
If a seller sell scrap & add TCS in his bill amount deposit it in bank but after 20 days he realise TCS is charged by him is on basic price not on basic+vat. so he collect less tax. what will be the solution. How much penality to deposit in bank.?
1 Answers
answered Aug 27, 2012 by CA Satuti Mahajan , batala
Just deposit extra TCS.
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Nikhil
17-Oct-2012 , 03:58:51 pmno Penalty..you have to deposit the Diffrence Amount in bank