TDS Query very very urgent

anony (MANAGER) (145 Points)

21 July 2011  

Dear  Sir,

 

I have a query that we received a contractor's bill pertaining to FY 2010-11, dated 01.12.2010, on which tds was deductible but we did not deduct the tds.

ALL RESPECTIVE RETURNS HAVE BEEN FILED, TDS CERTIFICATES HAVE BEEN DISPATCHED,, BALANCE SHEET FOR FY 2010-11 IS YET TO BE FINALISED.

KINDLY SUGGEST ME WHAT TO DO:

(A)  DO I NEED TO MAKE TDS DEDUCTION ENTRY ON 01.12.2010 ITSELF ALONG WITH BOOKING EXPENSES & DEPOSIT TDS TODAY ALONGWITH INTEREST OF 1.5% PER MONTH & REVISE THERETURN ACCORDINGLY.

(B) MAY I BOOK THE EXPENSES ON 01.12.2010 & DEDUCT TDS ON CURRENT DATE ALONGWITH INTEREST @ 1%.  I WILL NOT HAVE TO REVISE RETURN IN THIS CASE.

(C) ANY OTHER PRCEDURE SUGGESTED BY YOU.

 

KINDLY REPLY.