05 June 2009
We have wrongly mentioned A.Y. 2009-10 instead of 2010-11 in TDS challan. what is the procedure to rectify it and what are the consequences of not rectifying it?? Is there is any penalty or interest liablity as i have not seen any such thing in the Income Tax Act. Please help me out
05 June 2009
You will have to write a letter to your Income Tax officer (TDS) regarding the same to rectify the A. Y. on the challan. If the ITO makes the above changes then there will not be any interest or penalty liability as the payment has been made by you.
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