TDS Query Urgent

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CA Devesh Popat (Querist)

23 July 2009 I have few quetions related to TDS, please give advice on the following quetions.

1. If TDS is inadvertently paid for wrong AY then how can it rectified? Can it be used for filing in correct AY return even if in challan different AY is mentioned?

2. If TDS of different sections is paid in total one challan, then can it used for filing TDS return showing different deduction (under different section).

3. If TDS of 2 AY is paid in one challan then can it be used in both AY tds return.

Thank & Regards

Kaushal

Kaushal (Expert)

23 July 2009 The question is more of a practical approach then the governed by law.

In my view as far as the government receives the money other things inadvertently done are of less important.

In Income Tax Act the penal provision is for short-deduction,non deduction,non paymnet etc which has direct nexus with receiving of money by the government.

Ratan Sharma

Ratan Sharma (Expert)

23 July 2009 Hi,
yes for your all 3 questions. You will have to write an applications for corrections in TDS challans.
1. Write an application with the concerned TDS office clarifing the mistake occured while submitting challan.
2. Write an application with NSDL to make the necessary corrections in the TDS challans.
3. Pass the necessary entries in your books of accounts with full narations.
4. produce the copy of these applications whenever necessary.
If there is mistake in filing TDS challan then rectification can be carried out. Income Tax department can not deprive you from getting the credit of such challan .

Venkat Rao Marella

Venkat Rao Marella (Expert)

23 July 2009 As long as TDS is remmitted, there are no issues. I advise, you please make a representation letter to your TDS Circle officer mentioning the facts with necessary supportings. Meet the Officer in person and submit the representation letter to him.

Also, as told by Mr. Ratan, yoc can approach NSDL for corrections.

I het the TDS officer in person in a similar experience i had recently. The Officer has taken note of the details and assured me that he will update the records accordingly.

Regards,
Venkat.

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