Excess tds deducted & paid
This query is : Resolved
21 April 2010
Dear Sir/Madam,
We found that by mistake Accountant deducted excess TDS & paid 2 times in last quarter( Q4) ( F.y. 2009.10) under section 194C ( payment to contractors)
Can we issue the TDS certificate to party with excess deduction?
Please advise what to do?
Awaiting feedback
Regards
vinod
We found that by mistake Accountant deducted excess TDS & paid 2 times in last quarter( Q4) ( F.y. 2009.10) under section 194C ( payment to contractors)
Can we issue the TDS certificate to party with excess deduction?
Please advise what to do?
Awaiting feedback
Regards
vinod
21 April 2010
YES YOU CAN ISSUE TDS CERTIFICATE TO PARTY WITH EXCESS DEDUCTION.
EXAMPLE:
BILL AMOUNT=RS1000/-
TDS TO BE DEDUCTED=10
ACTUAL DEDUCTED=20
GIVE TDS CERTIFICATE FOR 20 SHOWING AMOUNT PAID CREDITED AS RS.1000/-
EXAMPLE:
BILL AMOUNT=RS1000/-
TDS TO BE DEDUCTED=10
ACTUAL DEDUCTED=20
GIVE TDS CERTIFICATE FOR 20 SHOWING AMOUNT PAID CREDITED AS RS.1000/-
Shyam Lal Naik
(Expert)
21 April 2010
1. You can issue certificate with the excess amount.
2. You may even apply for a refund.
3. You can adjust one of the challan with other TDS liablity in any quarter. In case of tax payable under any other section, you may get the code "94C" changed to any other code.
2. You may even apply for a refund.
3. You can adjust one of the challan with other TDS liablity in any quarter. In case of tax payable under any other section, you may get the code "94C" changed to any other code.
CA Ashok Kumar Sahu
(Expert)
21 April 2010
AGREE WITH EXPERT
22 April 2010
Dear All
Noted & many thanks for your kind & very valuable advise.
Regards
vinod.
Noted & many thanks for your kind & very valuable advise.
Regards
vinod.
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