06 June 2013
we have paid one party's tds wrongly under 194I CHALLAN instead of 194J challan in the last year.we have filed the tds return with tds of this party under 194I instead of 194J please advise whether we can rectify the tds return .
06 June 2013
Yes you may rectify the return but firstly approach AO to rectify the challan. It will be a long process, look for alternatives such as discuss with payee to accept and claim TDS. It is revenue neutral transaction since rate in both sections is 10%.
CAclubindia
