Shortage of income tax (tds)

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Sunil Jadhao (Querist)

11 July 2017 Dear expert, Greeting
I am filling my colleague's IT Return.He is a salaried person having no other source of income other than salary and bank interest.When I download his 26AS, there is 24000+ something interest and 2400+ TDS deducted on it.From his office accurate TDS deducted as shown on Form-16 .His GTI is 700000/- that means he comes under 20% tax slab.On computing his tax there is a shortage of deducted tax (TDS).
Please guide me on (1)Which challan, I use 280 or 281 (I think 280, Please correct me)
(2)Which major head i.e. 020 or 021 and minor head i.e.100,300 or 400 should I use?
(3) Is there any interest, penalty how to calculate this on Rs.4457/- (If I deposit tax as lump sum amount of 5000+
is it okay or not, Please correct me )
(4)Either I deposit this tax Online or through bank challan (to reflect on 26AS immediately)
Thanks, in advance
Sunil Jadhao

Anand

Anand (Expert)

12 July 2017 1. Please use challan ITNS 280
2. Major Head - 0021 & Minor Head - 300
3. You can deposit Rs. 5000/- as lumpsum. Since amount due does not exceed Rs. 10,000/- there is no need for interest and penalty as long as you make the payment before the due date of filing the return & upload the return before said date.
4. If you pay it by cash, home cheque of a bank, or online i think all of these should reflect more or less the same time. If deposited via a cheque from a bank other than the bank in which tax is being deposited it will take a few more days to reflect.

Message likes : 1 times

Sunil Jadhao

Sunil Jadhao (Querist)

12 July 2017 Thank You Very Much, Sir, On Your Immediate Response.

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