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Tds

kumar (Deputy Finance Manager) (36 Points)

11 September 2016

Can some one help me out in my query. If I have choosed a wrong section and remitted the TDS in that particular section and finally I came to know that I should have remitted in someother section after filing quarterly returns too. Now can I have an option to change the section. If so kindly let me know the procedure.

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3 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177713 Points)
Replied 11 September 2016

Yes, you can revise it. For more details, visit: https://www.tin-nsdl.com/etds-etcs/faq-etdrevised-corrded.php

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kumar (Deputy Finance Manager) (36 Points)
Replied 12 September 2016

Thanks for your quick response. I went through the site still confusing. Can you help me out in the above step by step methodology to follow to change the section.

Herewith providing you with 2 types of query which needs solution.

1. 194C - Contract 1% for Individual and 2% for company has been paid under section 194J Consulting which is 10%. But the amount is deducated as per actual and wrongly paid in sec 194J.

2. 194J - Consulting 10% deducted from party and paid in the sec 194I -Rent 10%. Here in this case the deducted amount remains the same but whereas the section has changed. Now need to move to the correct section.

In the first scenario the payment has been made in bank under section 194J where as it should have hit 194C. Now Income tax will say its a short deduction as the section which has hit is 10% but where as we have deducted and paid only 1 or 2%.

In the second scenario the amount remains the same but the section is changed. As the amount has been paid under section 194I we need to change it to 194J.

Awaiting for your help along with step by step procedure.

Thanks in advance.

Regards,

Kumar Dhandapani