How to pay tds default payments

This query is : Resolved

Prasanna (Querist)
Follow

19 December 2013 Dear sir,

we have received a letter from TRACES stating that there is
1, Short deduction
2, Interest on late payment

1, In Short deduction ( we has deducted for security people TDS @ 1%) and filled the same to the traces.

2, Interest on late payment (In this part i need your help in calculation of interest)

for example
Mr X we have payed 1,00,000/- and deducted tds @10% that comes to 10,000/- that amount is paid on 31July2013 and last date of paying of Tds is 7Aug2013 but we have paid it on 6Sep2013 and paid the interest for 1 month) is it right sir,

in this part we got the letter stating that we should pay 3 Months interest,

can you explain this part

GIRISH AGARWAL

GIRISH AGARWAL (Expert)
Follow

20 December 2013 Good Morning Sir, since you have filed the TDS according to your calculation of TDS on Bill amount you get from the Security Guards if you are paying them individually and not the agency 1% TDS on it is all right. Now go to TRACES open your account and download default file from there and see actually what is the mistake , it might be a late filling or under deduction of TDS as i seen in most of processing of TDS returns done by TDSCPC. Just see the defaults and file a revised return meeting out only defaults. When the process your revised TDS return they will drop the notice on there hand.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

George Innocent

Anoop

Arvind Sharma

JAYDEEP MITRA

ATUL MAKWANA

Subscribe Now

How to pay tds default payments

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Accountant

CA Final

Manager- Finance and Compliance

GST CONSULTANCY

Senior Executive