Ad Free CAclubindia and Daily Updates on your Mobile. Subscribe Now!

Wrongly tds claimed

05 September 2018

My client recd. tds wrongly claimed amount recd. Now repay to govt. how to pay and which head payment challan (e.g) self asst. tax or Regular asst. tax

Reply
Follow
Share

11 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177736 Points)
Replied 05 September 2018

Self Assessment tax .......... (as no demand being raised from ITD)

Upgrade to CAclubindia Pro. Subscribe Now!

AUDITOR VINOTHKUMAR (a) (870 Points)
Replied 05 September 2018

Wrongly claimed tds amount where can i show column ITR FORM 1

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177736 Points)
Replied 05 September 2018

Just revise the return without claiming TDS in TDS2 (or TDS1, as the case may be), and pay additional tax liability, with interest if any. If already refund received, add that much amount back in tax liability.

3 Like

AUDITOR VINOTHKUMAR (a) (870 Points)
Replied 05 September 2018

DEAR SIR, THANKS LOT SIR

AUDITOR VINOTHKUMAR (a) (870 Points)
Replied 05 September 2018

Dear sir,

One more another question ?

My client purchased lorry = 15,00,000

Less :01.04.2016 Depreciation value = 2,25,000 (1 Year)

------------------

Opening balance on 01.04.2017 12,75,000

------------------

08.01.2018 on dated sales lorry value = 12,50,000

My question

Which amount can i take pay tax (Short term capital gain from depreciable assets)

Upgrade to CAclubindia Pro. Subscribe Now!

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177736 Points)
Replied 06 September 2018

Depreciation not charged for 2017-18, hence STC Loss of 25K.

AUDITOR VINOTHKUMAR (a) (870 Points)
Replied 06 September 2018

Originally posted by : AUDITOR VINOTHKUMAR
	Dear sir, One more another question ? My client purchased lorry = 15,00,000 Less :01.04.2016 Depreciation value = 2,25,000 (1 Year) ------------------ Opening balance on 01.04.2017 12,75,000 ------------------ 08.01.2018 on dated sales lorry value = 12,50,000 My question Which amount can i take pay tax (Short term capital gain from depreciable assets)