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Discussion > Income Tax > TDS >

Tds late payment interest-single amount in challan details..

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independent practise

[ Scorecard : 1248]
Posted On 28 January 2012 at 23:57 Report Abuse

There is a delay in depositing TDS. We have deposited interest.  There are 28 deductees. The interest is about 2138 rupees. Now can I put this interets amount in challan column and keep quiet. OR

is it necessary that this 2138 is to be distributed among the 28 deductees in proportion to the amount.


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kanagaraj
CHARTERED ACCOUNTANT

[ Scorecard : 720]
Posted On 29 January 2012 at 18:55

Dear, Just enter tha amount in the interest coloumn and keep quiet



Total thanks : 1 times




Vineet Goyal
Finance & Accounts Executive

[ Scorecard : 517]
Posted On 29 January 2012 at 19:08

You need to deposit the amount section wise and quarter wise. Non-co./ co. does not matter.

 

You will have to revise the return also after depositing the amount. Just enter the challan details in the revised Return. No need to bifurcate the amount in the deductees.



Total thanks : 1 times



CA Kiran Sutrave
CA

[ Scorecard : 223]
Posted On 29 January 2012 at 21:47

Dear Ram Babu

It is advisable to bifurcate the interest amoong 28 deductees and make the payment of Interest on delayed deposit of TDS and file the Return if you have not filed or file revise Return if TDS Return not yet filed.

Bifurcation is required since the Notice that you will be receiving from the TDS Department will calculate Interest on each and every deductee for late payment of TDS.




CA Naresh Pareek
Practicing Chartered Accountant

[ Scorecard : 125]
Posted On 17 February 2012 at 16:49

IT IS NOT NECESSARY TO BIFURCATE THE INTEREST IN DEDUCTEES. DEFAULT FILE DOWNLOADED FROM NSDL SITE SHOWS THE INTEREST AMOUNT DEDUCTEE WISE, BUT IT IS JUST FOR THE CLARIFICATION OF ASSESSEE.




CA Naresh Pareek
Practicing Chartered Accountant

[ Scorecard : 125]
Posted On 17 February 2012 at 16:50




satish kumar voleti
A.C.A., (ICWAI)

[ Scorecard : 1656]
Posted On 18 February 2012 at 08:18

it would be better if you can file the  revised return for the interest in the delay payment of TDS..................after filing of revised return ..just write a letter to the concern ITO -TDS and enclose the copy of challan for interest.

 

 

 




PHANI KUMAR VANAMALA
CA FINAL ARTICLE ASSISTANT

[ Scorecard : 856]
Posted On 21 February 2012 at 17:34

option 1

But You should mention Sections for TDS payments




CA Vijay
Manager Finance

[ Scorecard : 89]
Posted On 09 March 2012 at 14:05

Need not to provide deductee wise bifurcation on Interest paid... You just have to pay interest and put amount in interest column in challan with respect to section. Please take care of interest payment section wise. After interest payment you also have to revised TDS return with interest payment challan details. After revising TDS return you may check online though TAN login whether default is still exist or not.



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