Dear Sir,
Please provide me with a solution for my querry which is as follows:-
-->Can the tds for previous financial year(i.e.2010-11) be deducted in current financial year(i.e. 2011-12), if it was deducted at wrong rate in the Previous Financial year(2010-11). for Example:- if the rate by which the tds was supposed to be deducted is10%(i.e.as per 194-J)but was deducted @ 2%. so can the balance amount of TDS(i.e. 8% ) be deducted in current Financial year.
Thanks,
Regards,
Puneet.
the only sollutions are as follows..
--first, if you are conducting an audit, then, you can only report this point in ur audit observations.
--if the case is same as mentioned by u i.e. 194J classified as 194C, then try to find if it was a genuine one,,means whether it realy qualifies for 10%.
TDS returns cud be revised.. ask ur boss.
kind regards--
abhiram
you can deposit the tax and will have to revise the tds return and issue the certificate to the vendor.. important issure remains is that u will have to bear the TDS cost...
revise the tds return...
Dear sir
U can revised the TDS return thereafter u can claim the amount of TDS which is not u collect from the party and collected amount must be paid to the department and give the TDS certificate to the party
you cants do this...just revise the return...
CAclubindia
