Shamita (Learner) (410 Points)
18 September 2010TDS 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.
Dinesh Kumar Agarwal
(Article clerk)
(117 Points)
Replied 18 September 2010
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.
NITIN BHATIA
(CA FINAL)
(188 Points)
Replied 28 September 2010
I Also agree with agarwal ji. but you have to file a revised return if you already filed return of 2nd quater.
swapnil
(DY ACCOUNT OFFICER)
(75 Points)
Replied 29 September 2010
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