Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 January 2014 We have deduct TDS @2% under contractor. At the time of TDS return preparation we have realised that party didn't have PAN no. so we deduct TDS @18% because of old 2%+18%=20% TDS deduct because of non availability of PAN No.
i have shown TDS@2% & TDS @18% separatly in TDS return that because of separate Challans. Now i have receved notice saying that short deduction of 2% & 18% TDS.
i want to file revised TDS return but really dont know how to show both the payment togather i.e 20%. Please help me to resolve this issue.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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29 January 2014 The way to handle this as follows:

Lets say that total payable to party was Rs100.

so initially you deducted Rs 2 and Rs 18 later. So when you show the payment against first challan, mention the amount pair as Rs 10 and tds deducted as Rs 2. Against the next challan, the amount shall be Rs 90 and tds 18. This way the 20% will reflect properly

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