WE DEDUCTED 10% TAX ON CHARGES OF CLEARING AND FORWARDING AGENCY(SERVICE CHARGE)UNDER SEC 194C INSTEAD OF 194H FOR LAST FY(2010-2011).TDS CERTIFICATE FOR THE SAME HAS BEEN SENT TO THAT PARTICULAR PARTY.BUT NOW OUR PARTY HAVE RECEIVED A QUERY FROM TAX AUTHORITY BECAUSE WE DEDUCTED TAX UNDER 194C @10% INSTEAD OF 194H.SIR,CAN OUR PARTY AVAIL THE TOTAL AMOUNT?.IS THERE ANY NEED TO RECTIFY THIS RETURN?IF WE NEED TO RECTIFY HOW CAN WE RECTIFY?
31 December 2011
Write letter to ITO TDS for correction in TDS challan. And file correction etds return, issue fresh form 16A, ask your client to revise his income tax return.
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