Regarding filing of tds challan

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2017 Hello Sir/Ma'am

This is my first time filing a TDS challan. I have some confusions please help me out -

1. What should be the assessment year?
2. Difference between company deductees and non-company deductees.
3. What will be the nature of payment if I have deducted tax from the amount I paid to the contractor for construction of warehouse?

Please help me. I will be highly obliged.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)

01 January 2017 Assessment year is year for which TDS applicable for FY 2016-17 AY will be 2017-18.

Nature of Payment depends on Payment if you are selected tds on contracts than choose 194C, if it is professional 194J etc

If Tds is deducted on Private Ltd or Ltd Company you have to choose company Deductee other than Company Deductee choose Non-company deductee.

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Vijay Parmar

Vijay Parmar (Expert)

01 January 2017 1. if you deducted tds on Dec16 then FY is 16-17 , so select Assessment year 2017-18 (generally assessment year means current year

2. company deductee means - you have deducted tds from payment given to company (other party is company)
Non company - other person is HUF, individual , firm etc

3.nature of payment - search challan in pdf copy you will get in second page all list of section, at present section is 194c payment related to contractor

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