TDS return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 January 2010 I have made remittance to outside india and tax has been deducted under section 195 of the income tax act.But it has been deposited under section 194J of the income tax act. Now there is problem in filing TDS return. Please suggest. Should we intimate to Income tax department or NSDL in this regard.If yes then please provide the format of letter.

Praveen Sharma

Praveen Sharma (Expert)
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12 January 2010 Pay the Tds U/s 195 & then adjust it with Tds amount deducted U/s 195. For 194J if there is any tds deduction adjust them also.

Regards

Querist : Anonymous

Querist : Anonymous (Querist)

12 January 2010 Paying TDS now in section 195 will attracts interest liability.TDS amount was 2 lacs and was deducted before 2 months.Pls advise.

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Praveen Sharma

Praveen Sharma (Expert)
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13 January 2010 Obviously if u committed misake, some penalty need to be paid.

Querist : Anonymous

Querist : Anonymous (Querist)

15 January 2010 Can we deposit the letter for intimating such mistake to the department and wait for any query raised for the same.