Tds

This query is : Resolved

divya barola (Querist)
Follow

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)
Follow

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)
Follow

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)
Follow

29 July 2013 Bankers may not do now.
.
Please follow the link-

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

divya barola

divya barola (Querist)
Follow

29 July 2013 Thank You Sir

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA.Gopal Rathi

S J MITRA

CA Sunny Sharma

Moby Mogli

Vimlesh kumar

Subscribe Now

Tds

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

GST CONSULTANCY

GST CONSULTANT

Manager- Finance and Compliance

Accountant

Article Assistant