TDS
This query is : Resolved
10 December 2009
Dear All,
I have deducted TDS on Interest (com) at 10% instead of 20% from last two months ....Now i found that mistake...is it possible to remitt to the IT now...? and any Interest for that have to pay ?
Regards,
Murugesh
I have deducted TDS on Interest (com) at 10% instead of 20% from last two months ....Now i found that mistake...is it possible to remitt to the IT now...? and any Interest for that have to pay ?
Regards,
Murugesh
CA Anand Sarda
(Expert)
10 December 2009
Dear Murugesh,
Since the financial year is not over, and u have not issued any TDS Certificate, u can deduct the interest @ 20% for last 2 months and remit to the authorities, but u have to pay interest to the authorities.
Since the financial year is not over, and u have not issued any TDS Certificate, u can deduct the interest @ 20% for last 2 months and remit to the authorities, but u have to pay interest to the authorities.
Murtaza I Bhagat
(Expert)
10 December 2009
agree with experts, you can deduct TDS of Short of TDS in next Month.
10 December 2009
Thank for ur kind reply....
Still i have not release the payment ...now i have adjusted the amount..For that amount can i remit now or next month?
Still i have not release the payment ...now i have adjusted the amount..For that amount can i remit now or next month?
Shyam Lal Naik
(Expert)
10 December 2009
The rate of TDS u/s 194A(ie. interest other than interest on securities is 10% w.e.f. 01.04.09. The rate was 20% upto 31.03.09, in case the deductee is a company.
You have deducted TDS correctly, albeit mistakenly.
No need to deduct further.
You have deducted TDS correctly, albeit mistakenly.
No need to deduct further.
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