banner_ad

Tds

This query is : Resolved 
Profile Image

Profile Image

(Querist)
27 August 2012 Dear Sirs & Friends,

In our company we deduct TDS @ 2%, then the party may be an Individual or Company 2% rate is fixed for all. This year however there were some defaults found in TDS deduction there were some short deductions made by us under Non Company category, My question is when we are already deducting TDS at a higher rate i.e. 2% instead of 1% how will we be in default when already excess TDS has been deducted. Where TDS deduction should be 10,000/- we have deducted 20,000/- as per the higher rate then how can we come in default. If at all there is any default the same will be adjusted against higher rate.Please clarify if i am wrong.

Best Regards,
Yajuvendra Rawat
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
28 August 2012 The default may be on account of lower deduction where the PAN was not provided or PAN was not correct.

In such case, TDS is required to be deducted @ 20%.
Profile Image

MOHD AFROZ

Profile Image

MOHD AFROZ (Expert)
29 August 2012 Siddharth Bhardwaj is saying right.............I also agree with this.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
05 May 2026
Accountant

Sanjay K Pathak & Associates

Noida

Graduate (Any)

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
04 May 2026
Articleship

S.K Gairola & CO

New Delhi

B.Com

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details