Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 July 2012 Dear Sir

We deducted TDS under 194C @1% wrongly while making payment to a professional now we want to deduct it u/s 194J. We will pay diffrece @9% to Govt.Now if I file TDS return showing 9% deducted u/s. 194J it will generate default as correct rate for 194J is 10%. What should be done in this case.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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30 July 2012 You will have to segregate the bill into two portions for filing TDS return.

Example:

Say Bill Amounts is Rs 10000/-

1% deducted Rs 100/- and deposited
Later 9% deducted Rs 900/- and deposited.

In return you will show as--
10% of Rs 1000/- i.e. 100
and
10% of Rs 9000/- i.e. 900.