Tds deduction
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 June 2012
Dear expert,
Suppose, there is a deductor liable to deduct TDS u/s 194C. In the first quarter, one of his deductee's payment was only Rs. 20000/- and therefore no deduction been made against payment assuming that it would be one and only transaction with him and no detail of said deductee is being mentioned in TDS return of first quarter. However, in second quarter, again a payment of Rs. 100000/- been made and deductor deducted Rs. 2400/- @2% on whole payment (20000/- + 100000/-) made till date.
Please advise me, how to deal is such matter, where whole TDS is deducted on 2nd payment. Whether the deductor has to file revised return for the first quarter and also deductor has to pay interest for first deduction?
Thanks in advance.
Suppose, there is a deductor liable to deduct TDS u/s 194C. In the first quarter, one of his deductee's payment was only Rs. 20000/- and therefore no deduction been made against payment assuming that it would be one and only transaction with him and no detail of said deductee is being mentioned in TDS return of first quarter. However, in second quarter, again a payment of Rs. 100000/- been made and deductor deducted Rs. 2400/- @2% on whole payment (20000/- + 100000/-) made till date.
Please advise me, how to deal is such matter, where whole TDS is deducted on 2nd payment. Whether the deductor has to file revised return for the first quarter and also deductor has to pay interest for first deduction?
Thanks in advance.
04 June 2012
no need to revise the return, show full deduction in current return and match it
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 June 2012
In 2nd quarter amount paid should be shown as RS. 20000/- or Rs. 120000/-?
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