28 April 2014
if any one deduct tds @ 2% u/s 194C instead of 1% in case of individual, and deposit the same upto the due date. then what are the consequences of this higher deduction. and how that individual gets the benefit of that remaining 1%. and how the assessee adjust that excess deposit challan with the actual liability of tds which is to b deducted.
28 April 2014
well, there are two ways of dealing it:
1. to adjust the same against future payments.
2. to file TDS return with the correct rate only and refund the excess to the deductee and lateron claim refund of the excess TDS from govt by filing Form 26B online.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
28 April 2014
that means for the moment we have to pay the deductee from our pockets. and afterwards we can claim the excess amount from the govt by filling 26B...??