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Nature of payment to pay interest on late payment of tds?

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Querist : Anonymous

Querist : Anonymous (Querist)

07 September 2013 Dear Sir / Madam,
We received a intimation u/s 200A from TDSCPC to pay Rs. 630 towards short payment of interest for TDS Return Q1, 2013-14.

We deposited the same amount through challan 281, we selected the A.Y 2014-15 and nature of payment 400 for the same.

But our bank has told us that the challan is not processing due to wrong nature of payment or Assessment Year and advised us to change the nature of payment to 200 instead of 400.

Kindly suggest us should we make the changes according to the bank? or what should be done to make the payment?

Thanks & Regards
Jitendra

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

08 September 2013 May be the reason for nature of the payment selected 400. because the assessment year mentioned 2014-15, normally assessment takes place during 2014-15 after 1.4.14 only you can take nature of payment 400. since this is just an intimation, you can use the nature of payment as 200

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