Tds by govt deductor

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 December 2013 Govt. deductors pay TDS through Book Adjustment Entry. I know that some of these Government deductors got notice for defaults for short deduction- interest for late payment etc. for various reasons.
How would they pay this. Is it by Book Adjustment Entry or by cash.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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29 December 2013 should be by book entry only.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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29 December 2013 though would love to hear other experts on this.

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C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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29 December 2013 In case of TDS no book entry is permitted. Book entry is for the account which is of general and revenue nature in which State Govt's one department is to get money from other department and internal adjustment memos are issued for adjustment but TDS is entirely a matter concerned with the Central Government and it is totally a different matter and represents the revenue of the country and not the expenses where adjustment by book entry is permitted.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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31 December 2013 yes adj with book entry is not allowed.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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31 December 2013 Are you sure guys. This is the first time I have heard that govt deductors are supposed to pay in cash!!!

please refer http://incometaxindiapr.gov.in/incometaxindiacr/faq.jsp?p=faq_eTDS.html

Question No 23. Govt deductors pay tax through book entry adjustment..

http://www.incometaxindiapr.gov.in/incometaxindiacr/faq.jsp?p=faq_eFiling_Form%2026AS.html Question 4