TDS

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ramesh vadnala (Querist)
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02 April 2010 we have duducted tds @20% for 2nd quarter &3rd quarter and issued pdc against interest before 01.10.2009.
for last quarter we have deducted tds @10%(new rate) and party requesting to not to deduct tds for last quarter as you have deducted tds at higher rate for 3rd quarter and to adjust the to 4th quarter

can we do the same ?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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02 April 2010 TDS TO BE DEDUCTED ON THE DATE OF PAYMENT OR CREDIT WHICHEVER IS EARLIER. PDC DOES NOT MATTER IF YOU HAVE CREDITED OR PAID BEFORE 1.10.09 RATE IS 20%(FOR COMPANY DEDUCTEE) AFTER THAT 10%.

IN YOUR CASE 3RD QUARTER RATE SHOULD BE 10% AND NOT 20%. SO YOU CAN ADJUST THE EXTRA TDS DEDUCTED IN THE 4TH QUARTER.

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