Tds
Thanks in advance.
and in the return of last Qtr also quote PAN
So that person will get the credit
in 2nd Qtr
You just have to update PAN i.e. you have to quote PAN instead of PANNOTAVBL
in 4th Qtr
you just have to quote PAN in the Statement
No Adjustment in Challan are required
just Update & Enter PAN
yes if you want to adjust TDS through previous challan you can as explained by Pradeep Sir
i m not getting what you meant miss priya ??
there is no harm you can use that challan in the 4th Qtr also
it will not affect the previous entries
1-14 Entries Challan Adjusted Rs.14000/-
15th Entry Challan Adjusted Rs.6000/- (20%)
after revising it will appear as
1-14 Entries (No change) Challan Adjt 14000/-
15th Entry Change Challan Adjt Rs.3000/-
BAlance Amount in challan Rs.3000/-unadjusted
use that challan in 4th qtr
1 Entry Challan adjt Rs.3000/-
i mean suppose total tds required to be deducted is Rs.6000/-
& if in the last Qtr she adjusted rs.3000/- with the prv challan then she can
so there is no issue involve if she wants to adjust the TDS amount
suppose she paid Rs.60000/- as interest during the year so the total liability cannot exceed Rs.6000/- (10% for pan holder for that year)
so the same can be adjusted from that
27/09/12 15357 3071
29/10/12 5434 1087
28/11/12 5434 1087
28/12/12 5434 1087
31/03/12 16845 55
TOTAL 48504 6386
Deductor is A Bank
Since you have paid TDS of Rs.6386/- the same has to be paid to Govt
and file the return accordingly & also revise the return of prev Qtr's to enable the person to get the credit
similarly For 3rd Qtr payable is 1631/- in rev return mentioning PAN and in fourth qtr tds @ 10% less excess paid in previous qtr is payable
TDS if paid as per provision in totality will not affect the transaction
there is no infringement in the same
So the adjustments can be done on the same
because the same was pending for the 4th qtr
but if the same was done previously i.e if it was not pending then only revision in PAN was the option and no other way but to deposit the tax & the person will take the credit of that amount
since here the adjustment is possible so the same can be done
Deduction are some time @ 13.5%
& some time it is 3%
but in totality it is nearly 10% so dont bother
section 194A(4)
The person responsible for making the payment referred to in sub-section (1) may, at the time of making any deduction, increase or reduce the amount to be deducted under this section for the purpose of adjusting any excess or deficiency arising out of any previous deduction or failure to deduct during the financial year.
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