Tds

This query is : Resolved

Neha (Querist)
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16 January 2012 Hi,
I have a query on TDS.
A government company has deducted TDS on advertisement contract @ 1% (old rate) instead of 2% (new rate). The full and final payment has been made to the advertisement agency and its account has been close.
can anyone help me out about what are the consequences and remedial measures of this.

Thanks

Regrds
Neha

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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17 January 2012 if u want t o avoid disallowance u can yourself deposit balance 1% from ur own pocket

CA ramesh

CA ramesh (Expert)
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17 January 2012 Deduction of tax at source is the obligation of the deductor. In your case as the govt dept deducted tax at lower rate will not impact you except that you can claim credit for the amount of tax deducted at source.

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