Mismatch in the tds deducted and tds deposited

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Mubashir (Querist)
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02 July 2013 Hi,

During the financial year 2012-13, there is a difference of Rs. 3400 between the TDS deducted and TDS deposited, where TDS deposited being short of this amount. Could you please tell me how this issue can be handled.

Also, it would be great if you could tell me regarding the penalties for the late deposition of TDS amount.

Thanks,
Mubashir
A novice in these topics

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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02 July 2013 You need to deposit the amount of short deposit along with interest @1.5% per month from the date of deduction till the date of deposit. Also check if the short deposit is correct or due to wrong information in TDS return. You will also have to revise the return. Imposition of penalty is in the hand of TDS AO depending upon the reasons of short deposit.

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