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24 q tds filling
Greeting
I have filled TDS returns for Q4 of fy 16-17 for salary.
The return was filled on time. Both the PAN No are valid.
The firm has two employees who been paid a salary of 4.50 Lakhs each only in the end of the year. i.e 31/3/17 and TDS deducted and remitted for each is Rs 45,000/- same has been remitted within the stipulated time.
On filling and processing the TDS returns, CPC has raised a demand on short deduction for 15450 along interest on short deduction for Rs 616 for each summing to 31,520/-
Now my query is when i have deducted Rs 45000/- for each on salary of 4,50,000 for which payment was made on 31/3/17 where does the question of short deduction arise, when TDS has been deducted @ 10%. What steps should i take to rectify the same?
Replies (15)
Go to traces & then request for justification report for the year for which demand is raised.
In justification report clarification provided by deptt for short deduction.
PFA a Screenshot of 24 Q
PFA a Screenshot of Justification report
HI Rashmi,
I have already done the same and attached screenshots...
Is PAN No. of your client is correct in the given statement.
Yeah. Both are correct
But according to this it is visible that u have made either wrong entry of TDS deducted or challan
For this u request for online challan correction & then correct details of clients or challan if any.
In case there is no discrepancy cancel online correction & contact your assessing officer.
For this u request for online challan correction & then correct details of clients or challan if any.
In case there is no discrepancy cancel online correction & contact your assessing officer.
Dont forget to reply if problem sorted out
| Originally posted by : rashmi gandhi | ||
 |
But according to this it is visible that u have made either wrong entry of TDS deducted or challanFor this u request for online challan correction & then correct details of clients or challan if any. In case there is no discrepancy cancel online correction & contact your assessing officer. |  |
OK will try the same.
| Originally posted by : rashmi gandhi | ||
|
Dont forget to reply if problem sorted out | |
Sure thing
Dear members, just for my knowledge, shouldn't the TDS in this case be according to tax bracket of the employee and not straight 10%?
Yes TDS shoild be as per tax bracket i.e.25750/- but deductor deduct excess tax.
| Originally posted by : rashmi gandhi | ||
|
Yes TDS shoild be as per tax bracket i.e.25750/- but deductor deduct excess tax. | |
And the same has been remitted also.
I contacted the TDS software people and they told me that some inouts like Tax deduction, income tax on salary were missing in the annex 2 of 24 q where all the details of deduction of the employees are mentioned. I was asked to input the same details and file revised return. On doing the same the demand would be dropped.
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