Payment of tds under wrong category
Debashis (MBA (Finance ) Asst. Manager Accounts SEALL LTD ) (65 Points)
23 December 2011Debashis (MBA (Finance ) Asst. Manager Accounts SEALL LTD ) (65 Points)
23 December 2011
deepak
(C.A & C.S Final)
(63 Points)
Replied 23 December 2011
Dear Debashis,
For the above related query, you must visit to the respective I.T Ward and ask to rectify the mistakes done .
CA Kiran Sutrave
(CA)
(428 Points)
Replied 24 December 2011
Dear Debashis
Since the payment is made in one challan it is advisable to make a new payment under section 194I along with interest. Adjusted Rs. 10,000/- which is excess payment of TDS under section 194J in the month of December 2011 or till March 2012.
While filing TDS Returns, show Rs. 10,000/- in others and not in tax amount. When you are adjusting it with TDS liability of next month show it under Tax amount.
If 2 seperate Challans were deposited or payment was made online then as per new Challan Correction Mechanism, you can make an application for change with the Bank where the Challan has been depsoited within a period of 3 months from the date of payment or deposit of TDS.
For your reference Challan Correction Mechanism is attached for your reference.
sadashiv Rupchand Gaikwad
(Proprietor)
(521 Points)
Replied 25 December 2011
Write a letter regarding modification of challan in nature of Payment. Obtain copy changes copy from Banks.To show changes and credit certifacates to the TDS Officer
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