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Rakesh Bhalotia (Querist)
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01 August 2011 Sir, My firm is engaged in mining of coal in Jharkhand. The subcontractor raise the bill quarterly basis as per agreement in the last date of the quarter. We got the said bill after 10th of next month i.e. bill dt.30.06.2010 recd on or after 10.07.2010. We have credited the entire bills on last date of quarter and in TDS return we have shown the bill credited on 30.06.2010. So, we could not deposited the TDS in due date i.e. 07.07.2010. The ITO(TDS) send the penalty notice u/s 221(1) of I.T.Act 1961. Please suggest me the way out. The above case relates to F.Y. 2008-09. Can we revise the TDS return of F.Y. 2009-10 & 2010-11 by changing the date of credit.

its very urgent.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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01 August 2011 https://www.caclubindia.com/experts/section-201-a--724270.asp#367869

The above query has been discussed earlier also. The above link will help in formulating a better reply.

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