Tds
This query is : Resolved
Srinivasan.M
(Querist)
18 October 2011
The applicability of rounding of the tds amount other than salary to the nearest ten is valid or not?
In the case of tds other than salary, the amount has been deducted to the nearest of ten and remitted, which leads to short deduction and remittances of tds, for e.g. an amount of 544.00 has been rounded of to 540.00 and remitted. The accumulation of these amount may comes to quite a big amount all over the year..
can this be negligible......?
In the case of tds other than salary, the amount has been deducted to the nearest of ten and remitted, which leads to short deduction and remittances of tds, for e.g. an amount of 544.00 has been rounded of to 540.00 and remitted. The accumulation of these amount may comes to quite a big amount all over the year..
can this be negligible......?
Preety Parik
(Expert)
18 October 2011
No, Round off of TDS Amount is not permissible. I have seen demand notice have been raised for short deduction/ payment. In the demand notice it was mentioned that rounding off difference upto Rs.100 was waived off.
Srinivasan.M
(Querist)
18 October 2011
Thank you.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Ito add credit side of bank
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Employee secondment
- GSTR9 Annual Return
- Reward for festival
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Capital gain on commercial property and investment in residential property
- Form 144 TDS Return Validation error
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- RCM and same line
- Upload Level ValidationITR3Category of Defect B/D
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- MSME Payment Sec.43B (h)
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
