TDS on contract not paid

[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)

AI Summary

Failure to Pay TDS by Due Date Affects Deductions Under Section 40(a)(ia) of Income Tax Act. A participant inquired about the implications of not paying TDS on a contract payment by the due date, aside from interest, and the effect of Section 40(a)(ia) of the Income Tax Act. One response clarified that TDS can be paid up to the due date for filing returns under Section 139(1) without disallowance under Section 40(a)(ia). Another response noted that if TDS is not paid by the due date under Section 139(1), no deduction will be allowed in the current year.