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/-
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.
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Under construction property in ITR
- Gift of mutual fund units to daughter
- Not able to file ITR
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- Reporting of STCG on Property in ITR
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
