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.