On a gross payment of Rs. 40000 made to a company, TDS was deducted at 1% i.e. Rs. 400 instead of 2% i.e. Rs. 800. TDS return of the quarter is yet to be filed. How can the situation be corrected in best possible way? Kindly advise
2 Replies
Studentsca
(CA Practice )
(3577 Points)
Replied 27 July 2017
Deposit Rs. 800/- to the government.
Intimate the company of the error.
Deduct Rs. 400/- from the next payment to the company.
Michelle
(Service)
(297 Points)
Replied 27 July 2017
| Originally posted by : Studentsca | ||
 |
Deposit Rs. 800/- to the government. Intimate the company of the error. Deduct Rs. 400/- from the next payment to the company. |
 |
Deposit shortfall Rs. 400 + interest under normal tax payment challan?
How will the earlier TDS payment of Rs. 400 and current payment of Rs. 400 be shown in Deductee details in TDS return?
Also, what if no other payment may be made to the company in the future?
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