Wrong deduction of tds
This query is : Resolved
09 December 2011
Dear Experts,
I have wrongly deducted TDS one of the party under profession which is actually related to contractor. We have filed tds return of 2nd quarter of current year . what should i do i have already filed the 2nd quarter tds . party is saying they want tds under contractor for remaining pending bills for which i deducting tds @10% on advance payment . please help me
I have wrongly deducted TDS one of the party under profession which is actually related to contractor. We have filed tds return of 2nd quarter of current year . what should i do i have already filed the 2nd quarter tds . party is saying they want tds under contractor for remaining pending bills for which i deducting tds @10% on advance payment . please help me
09 December 2011
u can file the revised return for making adjustments in form 26Q.
Guest
Guest
(Expert)
09 December 2011
In my opinion revised return is not possible. Since At the time of deduction of TDS you must have mentioned in challan 'TDS UNDER SECTION 194J'. While you should have deducted @ 1% or 2% under section 194C. So, according to me revised TDS return for second quarter will not serve the purpose since section can not be modified as mentioned in TDS challan.
What best now can be done is for pending bill / balance amount deduct TDS under section 194 C @ 1 or 2% whatsoever applicable.
I hope i am bale to bring some clarity on the matter.
What best now can be done is for pending bill / balance amount deduct TDS under section 194 C @ 1 or 2% whatsoever applicable.
I hope i am bale to bring some clarity on the matter.
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
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Sale of property furniture sale
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- RCM INVOICING FROM NOV-2024
- Confusion around Form 26QB fields
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
Trending Online Classes
CAclubindia
