Late tds deduction
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 September 2014
I had deducted TDS @ 1% on Partnership Firm wrongly instead of 2% in FY 2013-14.
Now my IT return is submitted.
Can I deduct short deduction amount in FY 2014-15? and file it in TDS return of FY2013-14 ? showing as a late TDS deduction.
Now my IT return is submitted.
Can I deduct short deduction amount in FY 2014-15? and file it in TDS return of FY2013-14 ? showing as a late TDS deduction.
Nikhil Kaushik
(Expert)
16 September 2014
yes you can. pay the TDS along with interest for short deduction and if you have not filed TDS return for the corresponding quarter, then file now or in case you have already filed the return, revise the return.
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