Short tds deduction

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

01 May 2012 Dear expert,
One of my client deducted Rs. 1984/- instead of Rs. 2098/- in 4th quarter of FY 2011-12. Now tds default email has been received for short deduction of Rs. 115/-. Now what can be done, as it would be tedious task to file correction statement, just only for the difference of Rs. 115/- .
Please advise me.

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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01 May 2012 Even if it is the default of Rs. 115, you need to file the rectification statement.

Querist : Anonymous

Querist : Anonymous (Querist)

01 May 2012 after depositing Rs. 115/-, there would be two challans of Rs.1984/- and Rs. 115/-, then how to adjust two challans for one payment entry during preparation of correction statement. As there is only one challan space for each payment in RPU provided by TIN. As one challan amount can be splited for two different deductees but how to adjust two challans for single payment?

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Ram Ji Srivastava

Ram Ji Srivastava (Expert)
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01 May 2012 you have to split the bill amount according the tds amount after that you will be adjucted the tds figure according to your challan amount.

Querist : Anonymous

Querist : Anonymous (Querist)

01 May 2012 after depositing the tax, if my client writes a letter to ITO TDS with the copy of challan for rectification of mistake,
Whether it is sufficient or revised return would be only resort.

Ram Ji Srivastava

Ram Ji Srivastava (Expert)
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02 May 2012 In my opinion, revised return is right soluation for the same.

Querist : Anonymous

Querist : Anonymous (Querist)

04 May 2012 If this revised return is filed after 1 july 2012, whether it also attract the penalty of Rs. one lac or not? (as amended provisions of department)
Please advise me.