TDS has been deducted @ 1% while making payment to a contractor (Partnership Firm) in Aug. 2010 and the same has been deposited by 7th Sep. 2010. Now should we change the TDS deduction entry in Aug. 2010 or pass a new entry in Sep. 2010 with the amount of TDS short deducted. How this will affect our quarterly TDS return.
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TDS short deducted
Replies (4)
this is case of 2nd qtr and return filling date is 15/10/2010.
You can deduct 1% tax (remaining) in the month of september and deposit the same.
In tds return show amount in two seperate amount like 5000+5000 in same date and first 5000 is ok and for 2nd 5000 tds of Rs. 100 should be deposited with interest and shown in TDS return by seperate challan.
I Also agree with agarwal ji. but you have to file a revised return if you already filed return of 2nd quater.
YES I ALSO AGREE WITH MR DINESH KUMAR
correct
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