Tds submited 1 % instead of 10%
This query is : Resolved
20 August 2011
Hi All,
I have wrongly submitted 1% tds instead of 10% on professional services in the month of june 2011.
Unbelievablly but chartered accountant has filed the TDS return of the above quater and he does not intimate us this mistake.
i have deposited a single challan for three different tds deduction of three invoices but party was same.
Now what is the solutions of this mistake ?
Thanks in advance to all
I have wrongly submitted 1% tds instead of 10% on professional services in the month of june 2011.
Unbelievablly but chartered accountant has filed the TDS return of the above quater and he does not intimate us this mistake.
i have deposited a single challan for three different tds deduction of three invoices but party was same.
Now what is the solutions of this mistake ?
Thanks in advance to all
21 August 2011
Have you only committed the mistake in the return or have you deducted tax only at 1%?
Know that it is possible to file a correction return. Rectify and file a "correction" return.
Know that it is possible to file a correction return. Rectify and file a "correction" return.
Message likes :
1 times
21 August 2011
if u have deducted the tds 10% but filed the return as 1% u can file the correction return.
however if u have short deducted the tds amount then u have to pay the tds short amount and file the correction return.
but before that verify the filed return to know under which section he showed the tds amount under section 194c or 194j
however if u have short deducted the tds amount then u have to pay the tds short amount and file the correction return.
but before that verify the filed return to know under which section he showed the tds amount under section 194c or 194j
21 August 2011
I agree with the experts
21 August 2011
I have deduct only 1% instead of 10% . I have deduct as below mention
Rs. 273544/- tds amount Rs. 2735/- Rs. 44120/- tds amount Rs. 441/- Rs. 11865/- tds amount Rs. 119/-
all the tds amount deposited through only one cheque and by one challan only. all the tds u/s 194 J
So it means i have deducted wrong tds amount. Plus Chartered accountant filed the return with 1% tds which i deducted, it means he was also incorrect. and filed incorrect Return.
Now my question is how should i deposite new challans ? only one challan or sepret for every transaction ? all the payments are belongs to only one party .
Rs. 273544/- tds amount Rs. 2735/- Rs. 44120/- tds amount Rs. 441/- Rs. 11865/- tds amount Rs. 119/-
all the tds amount deposited through only one cheque and by one challan only. all the tds u/s 194 J
So it means i have deducted wrong tds amount. Plus Chartered accountant filed the return with 1% tds which i deducted, it means he was also incorrect. and filed incorrect Return.
Now my question is how should i deposite new challans ? only one challan or sepret for every transaction ? all the payments are belongs to only one party .
22 August 2011
pay seperate challana and file a revised return
22 August 2011
Since it is different amounts and you will find it easier to relate the remittances to payments when you file the return, it is advisable to remit through separate challans as advised by Shri Chowdry
23 August 2011
PAY THE DIFFRENCE AMOUNT WITH SEPARATE CHALLAN AND FILE REVISE RETURN.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- SEC 54 OF IT ACT
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- Form 26QB for TDS on property
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Whether still royalty
- Payable outstanding for years disallowance
- BLOCKED-INELIGIBLE GST CREDIT
- Amendment of September 2021 Invoice
- Residential status for filling income tax returns in India
- Deemed to be University shall pay gst on Bus fee collection from students
- Section 194LBB
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
