Tds deducted less
This query is : Resolved
21 February 2012
U/S 194C,
WE HAVE TO DEDUCT TDS @2% FROM PVT.LTD VENDOR, BUT MISTAKELY DEDUCTED @ 1%, SHALL WE RECOVER/DEDUCT 1% MORE FROM OTHER BILL OF SAME VENDOR ? PLEASE ADVICE ?
WE HAVE TO DEDUCT TDS @2% FROM PVT.LTD VENDOR, BUT MISTAKELY DEDUCTED @ 1%, SHALL WE RECOVER/DEDUCT 1% MORE FROM OTHER BILL OF SAME VENDOR ? PLEASE ADVICE ?
21 February 2012
Better to debit his account and pay within the due date other wise payment of interest is liable
21 February 2012
Yes you need to deduct the amount of TDS short deducted from next bill pay the TDS within due date. In case of short deduction default will be raised and notice will be issued for payment of short amount along with interest. So just deduct the TDS from next bill and pay within due date.
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