Tds
This query is : Resolved
01 April 2016
Dear All, Suggest me a solution,
My frnd company received Notice from IT Dept stating that TDS is short deducted for 1% instead of 2% in the year 2011-12, Actually to be deducted is 2% now there is a short fall for 1% from the year 2011-12.
Can i deduct TDS in the current year for the amount?
If i deduct under what section i need to pay?
Do i need to deposit interest of 1% for delay deduction?
Can i prove that the person for whom the TDS to deducted have filed STI correctly, so i can escape the assessment?
Is there any other solution?
Thanks
My frnd company received Notice from IT Dept stating that TDS is short deducted for 1% instead of 2% in the year 2011-12, Actually to be deducted is 2% now there is a short fall for 1% from the year 2011-12.
Can i deduct TDS in the current year for the amount?
If i deduct under what section i need to pay?
Do i need to deposit interest of 1% for delay deduction?
Can i prove that the person for whom the TDS to deducted have filed STI correctly, so i can escape the assessment?
Is there any other solution?
Thanks
01 April 2016
Yes if you prove through a certificate from a CA, that the person to whom the TDS to be deducted has paid the tax and filed the return you can escape from the notice of short deduction.
01 April 2016
So can i get his STI of 2011-12 and get it certified by a CA.
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