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TDS Query

PRAVEEN KUMAR (MBA (Finance) B.Com.(P)) (3443 Points)

10 June 2009

Hi,

one of my client has depostied TDS for companies and for non companies in one challan

excuse he is giving that at the time of deposit of TDS he was not having details of parties. thats why this mistake has occur.

he has done this whole year. also he has also filed his e-tds return.

he is doing this for last 2 years

Please tell me any remedy for this & consequenses / penalties etc. (if any )of this overlook by thim.

Pls note : he is also not wishing to revise his return.

Thanks & Regards

Praveen

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4 Replies

Aditya Maheshwari (CA in Practice) (35867 Points)
Replied 10 June 2009

I think the field for companies and other than companies is just for administrative purpose. Till the time he is depositing the tax i dont think there is any problem. Many assessees do that but till date i have not seen anyone being penalised for that. Many of the company deductors always select company deductees as they feel they are company and company is paying. You cannot revised the return as the details in the challan cannot be split. Dont worry till something happens.

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Aditya Maheshwari (CA in Practice) (35867 Points)
Replied 10 June 2009

Also please note if the company does not know the parties for whom he is deducting then how does he know the amount of TDS payable.

For future tell him to comply. But now with form no. 17 such requirement will be not there.

PRAVEEN KUMAR (MBA (Finance) B.Com.(P)) (3443 Points)
Replied 11 June 2009

thnx for advice Maheshwari Jee,

Thank u very much

(Guest)

Dear Sir

Thanks for the information but there are different rates of TDS for co. & other than companies.

and If you mentioned status of payees in challan form the amount will be accounted by IT as per informed.

I think if you are not mentioned right category in challan it may be difficult for the person/ company (for whom you are deductng tax) to get refund of TDS.

>> Rajesh