Tds wrong payment

This query is : Resolved

Ajit Bagadia (Querist)
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05 May 2014 We have made 2 different nature of payment of TDS under one single challan by mistake. how we can show it in TDS return.

Sandeep Dharar

Sandeep Dharar (Expert)
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05 May 2014 U can give the same challan reference in the two categories in the return.

Rupesh Jain

Rupesh Jain (Expert)
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05 May 2014 you can not adjust single challan under two category.

Sandeep Dharar

Sandeep Dharar (Expert)
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05 May 2014 U can adjust if it belongs to FY 13-14.

Rupesh Jain

Rupesh Jain (Expert)
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05 May 2014 you are not adjust this
one option if the both category TDS rate are same then you make entry on that and adj the challan (after changing the category).or you change the rate of tax.

for exp.

if you deposit the contract and prof. service challan combined.

then you can deduct the tds rate of professional under contract category.

CA Umesh kumar Mantri

CA Umesh kumar Mantri (Expert)
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05 May 2014 TDS should be deduct or not on Bank Processing Fees U/s 194 J.

If not y?

Rupesh Jain

Rupesh Jain (Expert)
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05 May 2014 if you make payment of any bank then no tds will be deductible.

CA Umesh kumar Mantri

CA Umesh kumar Mantri (Expert)
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05 May 2014 can u refer me me section name or circular if any?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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05 May 2014 refer section 194A and definition of interest as per section 2.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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05 May 2014 with regards to first query, have to agree with Sandeep, the new RPU doesnt differentiate between challan section.

Rupesh - please update.

CA Umesh kumar Mantri

CA Umesh kumar Mantri (Expert)
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06 May 2014 Thanks Got it.
In sec. 2 definition of Interest

Nikhil Kaushik

Nikhil Kaushik (Expert)
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06 May 2014 you are welcome Umesh.....

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