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Tds default generated?

vinayak (accountant) (255 Points)

06 March 2014

We are pvt lt co. We have deducted tds on commission at lower rate i.e.1% because seller has given us lower deduction certificate. So in TDS return I mentioned certificate number for 2nd & 3rd quarter of F.Y.2013-14. I also gor form 16 for this transaction without any error. Now I have received TDS default notice for the said commission and they are asking me to pay remaining 9% commission. what should I do now? default is come as Rs.10 lacs.

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3 Replies

vinayak (accountant) (255 Points)
Replied 06 March 2014

Originally posted by : 123456
	We are pvt lt co. We have deducted tds on commission at lower rate i.e.1% because seller has given us lower deduction certificate. So in TDS return I mentioned certificate number for 2nd & 3rd quarter of F.Y.2013-14. I also gor form 16 for this transaction without any error. Now I have received TDS default notice for the said commission and they are asking me to pay remaining 9% commission. what should I do now? default is come as Rs.10 lacs. I had contact TDSCPC help line number they said that this issue will get solwed at backend I does not have to anything in it

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Deepak Tapse (Accounts Manager - Taxation) (1771 Points)
Replied 06 March 2014

Pl mention "A - In case of lower deduction/no deduction on account of certificate under section 197" in reason for lower deduction column. Also mention lower deduction certificate number issued by AO.

CA SUKSHAM ARORA (CA) (569 Points)
Replied 06 March 2014

download the correction statement and check whether the certificate number provided by you is correct and also check if A is written in the coloumn of lower deduction in all the entries, if your certificate number is correct then you need not to deducted remaining 9% of TDS