Missed the TDS Deadline? Here’s What It’ll Cost You! 🚨 Think filing TDS late is just a minor slip? Think again! The consequences can be severe, costing businesses more than just a penalty. Here’s what’s at stake if you delay: 🔹 Interest on Late Payment – 1% per month if TDS isn’t deducted on time, 1.5% per month if deducted but not deposited. This interest keeps adding up! 🔹 Hefty Late Filing Fees – ₹200 per day until the fee equals your TDS amount. A simple delay can burn a hole in your pocket. 🔹 Expense Disallowance – If TDS isn’t deducted/deposited, 30% of the expense (for domestic payments) won’t be allowed as a deduction while calculating taxable income. 🔹 Penalties Up to ₹1 Lakh – Filing incorrect or delayed returns can attract penalties between ₹10,000 and ₹1,00,000 under Section 271H. 🔹 Risk of Prosecution – In extreme cases, non-remittance of TDS can result in imprisonment for up to 7 years! 💡 Stay Compliant, Avoid the Headache! TDS isn’t just a tax formality—it’s a legal obligation that can make or break your financial standing. Ensure timely deductions, accurate filings, and avoid unnecessary penalties. Tag a business owner who needs to see this! #TDS #TaxCompliance #BusinessFinance #IndiaTaxation #TheLegalOne