25 June 2015
One of my clients Salary paid to his employees Rs.83333/- Per month & Deducting TDS of Rs.8333/- for the FY 2013-14. Total Salary paid Rs.999996/- & TDS 99996/- and same shown in Quarterly TDS Return -Form 24Q . The Employees paid separately advance tax of Rs.33000/-. But now the demand intimation received my clients from TDS-CPC for Rs.34010/- for short deduction alongwith interest Rs.1010/- for FY 2013-14 of 24Q4. What is the solution of above matters the amount shows in my Form-26As for TDS Defaults of Rs.34010/-. Can we do the TDS Revise return but in revise return where can show the advance tax of Rs.33000/- paid by employee.
25 June 2015
Reply to the demand notice. The First Proviso to s. 201 (1) as inserted by the Finance Act 2012 w.e.f. 1.7.2012 provides that any person, including the principal officer of a company, who fails to deduct the whole or any part of the tax in accordance with the provisions of this Chapter on the sum paid to a resident or on the sum credited to the account of a resident shall not be deemed to be an assessee in default in respect of such tax if such resident—
(i) has furnished his return of income under section 139;
(ii) has taken into account such sum for computing income in such return of income; and
(iii) has paid the tax due on the income declared by him in such return of income,
and the person furnishes a certificate to this effect from an accountant in such form as may be prescribed:
Vide Notification No. 37/2012 [f.no. 142/18/2012-so(tpl)] dated 12-9-2012, the CBDT has inserted Rule 31ACB and Form No. 26A to prescribe the format in which the CA’s certificate should be obtained by the payee.
CAclubindia
