Tds

This query is : Resolved

divya barola (Querist)
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29 July 2013 One of our Clients had received Notice of Demand from the department for short deduction of TDS and Interest on late payment of TDS.
The minor head should ideally have been 400 ie. TDS/TCS Regular Assessment (Raised by IT Dept). But the payment was erroneously made in the minor head of 200 ie. TDS/TCS payable by Tax payer.
What are the implications of this?
Does the assessee need to write any letter to the department for the rectification of the same? Is there any possibility of receiving another notice for demand of the same?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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29 July 2013 Possibilities will be lesser if you intimate by writing a letter to the AO (TDS).
.
If possible contact your bankers to rectify the code.
.

divya barola

divya barola (Querist)
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29 July 2013 ok sir.
But the payment was made on 18.07.2013.
So already 11 days have passed.
can the bankers rectify the code now?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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29 July 2013 Bankers may not do now.
.
Please follow the link-

https://incometaxindia.gov.in/archive/LeftMenu_ChallanCorrectionMechanism_26082011.pdf

divya barola

divya barola (Querist)
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29 July 2013 Thank You Sir

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