interest on tds

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Punit Agrawal (Querist)
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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?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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24 December 2013 yes it will be deposited under 400(regular assessment)

Punit Agrawal

Punit Agrawal (Querist)
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24 December 2013 balance amount to be deposited na.
Then what to do.
revise return or any other thing.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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24 December 2013 if only int is to be paid then no revision of tds is required.

Punit Agrawal

Punit Agrawal (Querist)
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25 December 2013 then what to do after deposit of bal. intt.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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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.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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25 December 2013 sir in case of int only to nbe paid what is the purpose of revising the return?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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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.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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25 December 2013 ok thank you sir.

Punit Agrawal

Punit Agrawal (Querist)
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25 December 2013 k,
Thanks

Punit Agrawal

Punit Agrawal (Querist)
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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.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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11 January 2014 Yes. Enter challan details with interest amount.

Punit Agrawal

Punit Agrawal (Querist)
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11 January 2014 so, no adjustment of challan entry-wise.
no any late fees chargable in ths case na.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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11 January 2014 No party wise adjustment required. No late fees applicable for filing revised return.

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