Tds deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 November 2013 I had deducted & deposited TDS of Party u/s 194C in oct. but now I came to know that it should have been deducted u/s 194J.
For rectification what should I have to do...

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

23 November 2013 You can refer the following link

http://www.incometaxindia.gov.in/archive/LeftMenu_ChallanCorrectionMechanism_26082011.pdf

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

23 November 2013 in this case, in addition to change in challan as suggested by Bafna ji, you also need to deduct additional tax for 8%/9% as the case may be and deposit it along with interest applicable under section 201.

Upgrade to CAclubindia Pro. Subscribe Now!