Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 July 2012
Dear Sir
We deducted TDS under 194C @1% wrongly while making payment to a professional now we want to deduct it u/s 194J. We will pay diffrece @9% to Govt.Now if I file TDS return showing 9% deducted u/s. 194J it will generate default as correct rate for 194J is 10%. What should be done in this case.
We deducted TDS under 194C @1% wrongly while making payment to a professional now we want to deduct it u/s 194J. We will pay diffrece @9% to Govt.Now if I file TDS return showing 9% deducted u/s. 194J it will generate default as correct rate for 194J is 10%. What should be done in this case.
30 July 2012
You will have to segregate the bill into two portions for filing TDS return.
Example:
Say Bill Amounts is Rs 10000/-
1% deducted Rs 100/- and deposited
Later 9% deducted Rs 900/- and deposited.
In return you will show as--
10% of Rs 1000/- i.e. 100
and
10% of Rs 9000/- i.e. 900.
Example:
Say Bill Amounts is Rs 10000/-
1% deducted Rs 100/- and deposited
Later 9% deducted Rs 900/- and deposited.
In return you will show as--
10% of Rs 1000/- i.e. 100
and
10% of Rs 9000/- i.e. 900.
SANYAM ARORA
(Expert)
30 July 2012
Agreed with Sanjay Sir
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