interest on tds
This query is : Resolved
24 December 2013
we have done payment of tds with interest, but interest paid on late payment was just short. now we received intimation u/s 200a from IT Deptt. having intimation for payment of intt. but under this intimation no deduction is given to us for interest already deposited by us. now what procedure to be followed for deposit of interest & what to do after deposit of interest. Interest will be deposited under 400(regular assessment) in challan?
24 December 2013
yes it will be deposited under 400(regular assessment)
24 December 2013
balance amount to be deposited na.
Then what to do.
revise return or any other thing.
Then what to do.
revise return or any other thing.
24 December 2013
if only int is to be paid then no revision of tds is required.
25 December 2013
then what to do after deposit of bal. intt.
25 December 2013
After depositing the balance interest just file the revised return and intimate the TDS AO through letter enclosing a copy of challan and revised retrun receipt.
25 December 2013
sir in case of int only to nbe paid what is the purpose of revising the return?
25 December 2013
So that the amount so deposited will be reflected in return and will be credited against your TAN otherwise the amount continues to be shown as due in the records.
25 December 2013
ok thank you sir.
25 December 2013
k,
Thanks
Thanks
11 January 2014
But Sir, there is no any entry-wise adjustment is possible of interest in return, then only challan detail will be entered in return.
11 January 2014
Yes. Enter challan details with interest amount.
11 January 2014
so, no adjustment of challan entry-wise.
no any late fees chargable in ths case na.
no any late fees chargable in ths case na.
11 January 2014
No party wise adjustment required. No late fees applicable for filing revised return.
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