short deduction of tds
This query is : Resolved
Harikrishnan
(Querist)
10 May 2011
Sir
I have for the AY 2011-2012 (F.Y 10-11) short deducted tax amount of Rs.2916/- for the salary of one employee during the month of March 2011. Annual returns were also filed without that amount. But TDS certificate for the employee not yet issued. It will be issued before May 31st 2011. And for the month of April 2011 I have deducted and remitted tds of Rs.4500/- in the month of May 2011. My query is
What will be the consequences of short deduction for the F Y 10-11?
Whether any adjustment can be made with the amount deducted during May 31st 2011 so that the short deduction can be adjusted with the above amount?
Whether I can correct the annual return already filed if any adjustment is possible with the amount deducted during May 2011
I have for the AY 2011-2012 (F.Y 10-11) short deducted tax amount of Rs.2916/- for the salary of one employee during the month of March 2011. Annual returns were also filed without that amount. But TDS certificate for the employee not yet issued. It will be issued before May 31st 2011. And for the month of April 2011 I have deducted and remitted tds of Rs.4500/- in the month of May 2011. My query is
What will be the consequences of short deduction for the F Y 10-11?
Whether any adjustment can be made with the amount deducted during May 31st 2011 so that the short deduction can be adjusted with the above amount?
Whether I can correct the annual return already filed if any adjustment is possible with the amount deducted during May 2011
sai swaroop munaga
(Expert)
10 May 2011
Pay the difference amount along with two months interest & file the revised 24Q
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