10 November 2013
hi .
i deposit tds u/s 94i.but i wrongly deposit in 94-J in sept2013 .our quartely return has submitted.return has correct submitted .plz suggest me what can i do now. plz help me imidietly
10 November 2013
Robin, you have really delayed much in recognizing your mistake... The TDS return submitted by you must have been processed till now... You are saying that return has been correctly submitted.. Which section you entered in TDS return 94I or 94J??? If you entered 94J then later you will have to revise the TDS return too..
I am not much sure whether this will work in your case or not.. Still try to write to local Jurisdictional officer administering TDS department to make correction in their database and if he does so correct your TDS return also...
If you have deposited the tax via physical challan you can get it corrected from the bank itself till December 2013.
If the tax was paid online, you may request the Assessing Officer to make the correction. Please refer: http://www.incometaxindia.gov.in/archive/LeftMenu_ChallanCorrectionMechanism_26082011.pdf
In any case, this is not a case of short deduction of taxes. So no interest demand can arise out of different section as it can happen in case of replacing 194C with 194J in TDS return.
Kindly don't touch your TDS return. No point in doubling the mistake.
15 November 2013
No penalty... It is just an error which can be rectified... No additional interest or penalty will be levied on you if you have not made any mistake in paying correct TDS amount..
29 November 2013
Robin as such I don't find any time limit in Act to rectify the error in such case.. But advisable to rectify it as early as possible...
CAclubindia
