tax deducted at source

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 September 2011 Hi,

We have have deducted and deposited TDS of our customer at the rate of 20% instead of 10% and deposited it in the head 194A (non submission of PAN) moreover we have also not filed quarterly TDS return now how it can be rectified and what we should do now to file our return for the FY 2011-12
PANDURANGA. C.C.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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13 September 2011 If you have deposited the amount best way is to go and file the TDS return with correct PAN of deductee's and they will get the credit of TDS amount. And dont worry you will not have to face any problems for deducting excess TDS.

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Querist : Anonymous

Querist : Anonymous (Querist)

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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13 September 2011 "what we should do now to file our return for the FY 2011-12".??Which return are you talking about if income tax return since it has no problems for this reason.

Regarding TDS return, as you have not filed the TDS return as yet, just file the return by mentioning correct PAN of deductee's and in rate mention 20% there will be no problems and also dont select the reason for higher deduction due to no PAN. Only cahnge the rate to 20% and the return will validate and the deductee will get credit of the entire TDS amount.

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
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13 September 2011 I am agree with Mr.Sanjay Gupta ( The REAL expert of CA Club)

Abhishek Ranjan Singh
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