16 January 2012
Hi, I have a query on TDS. A government company has deducted TDS on advertisement contract @ 1% (old rate) instead of 2% (new rate). The full and final payment has been made to the advertisement agency and its account has been close. can anyone help me out about what are the consequences and remedial measures of this.
17 January 2012
Deduction of tax at source is the obligation of the deductor. In your case as the govt dept deducted tax at lower rate will not impact you except that you can claim credit for the amount of tax deducted at source.
CAclubindia
