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.
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.
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
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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