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TDS urgent query

Arihant (Business) (207 Points)

07 May 2011

What is the remedy available for a assessee if he deposits the TDS in wrong section ? For eg TDS pertaining to interest others u/s 194A is deposited in salary u/s 192.

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U S Sharma (glidor@gmail.com) (21063 Points)
Replied 07 May 2011

Write to AO(TDS) with a copy of challan and request to allow credit in correct section.

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Ruchi Saini (Fresher) (43 Points)
Replied 07 May 2011

pls tell me interest amount for non deduction of tax at source on contracter from 6th april 2010 to till date.

ITS URGENT FNDS........

U S Sharma (glidor@gmail.com) (21063 Points)
Replied 07 May 2011

interest 1.5% per month or part thereof.

Ruchi Saini (Fresher) (43 Points)
Replied 07 May 2011

THANKS ALOT .......but still i really want to amount of TDS with INTEREST on payment made to contractor Rs.100000/- on dated 6th april 2010.

thanks again

U S Sharma (glidor@gmail.com) (21063 Points)
Replied 07 May 2011

TDS Rates Chart

Rates of TDS for major nature of payments for the Financial Year 2010-11
Particulars				Rates from 1.4.10 to 31.03.2011
*Section*	*Nature of Payment*	*Criteria forDeduction* *(payment in excess of) upto* *30th June 2010*	*Criteria forDeduction(payment in excess of) w.e.f. 1st July 2010*	*If the recipient is a Company, Co- operative Society, Firm*	*If recipient is an Indivudual or HUF*
194 A	Interest from a Banking Company	Rs.10,000/- p.a	Rs.10,000/- p.a	10.00	10.00
194 A	Interest other than from a Banking Co.	Rs.5,000/- p.a	Rs.5,000/- p.a	10.00	10.00
194 C	Contractors	Rs.20,000/- per contract or Rs.50,000/- p.a	Rs.30,000/- per contract or Rs.75,000/- p.a	2.00*	1.00*
194 H	Commission or Brokerage	Rs.2500/- p.a	Rs.5,000/- p.a	10.00	10.00
194 I	Rent other than Plant, Mach.& Eqp.	Rs.1,20,000/-p.a	Rs.1,80,000/-p.a	10.00	10.00
194 I	Rent of Plant , Machinery & Equipments	Rs.1,20,000/-p.a	Rs.1,80,000/-p.a	2.00	2.00
194 J	Professional Charges	Rs.20,000/- p.a	Rs.30,000/- p.a	10.00	10.00

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U S Sharma (glidor@gmail.com) (21063 Points)
Replied 07 May 2011

in case the contractor is individual or HUF - 1%

in any other case - 2%

in case PAN is not submitted by contractor - 20%

TDS interest 14 months = 14*1.5/100* TDS amount

Ruchi Saini (Fresher) (43 Points)
Replied 07 May 2011

thyanks

thanks

thanks..............................................alot

Ruchi Saini (Fresher) (43 Points)
Replied 07 May 2011

hello friends.......

i m very confuse pls help me that it is possible? to clear CA final exams (theory) with out coaching ie. self study.....with full time articleship .pls suggest some relevant books .....

Thanks?