Short deduction of tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 August 2014
In one of the case where TDS supposed to be deducted @10% where as by oversight 2% deducted and there is no other transaction with that party for recovry of the short deducted amount. Now we received a demand from IT deptt to pay the short deducted amount along with penalty. penalty is payaable but in case of short deducted Please advice whether the same amount to be paid or not since we we dont have any transaction with the vendor and it will be double payment to party by giving TDS certificate.Please advice
18 August 2014
If the party has filed the return and paid the tax considering your payment there is no need once again to pay the tax, provided you get a certificate to this effect from the CA of the party. The certificate can be produced to the IT authorities.
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