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Tds at wrong rate within limit??????

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(Querist)
06 February 2012 Dear sir,

If TDS is deducted at wrong rate i.e. at 1% instead of 2%, but supplier has not crossed the threshold limit, then It will be ok or still their is Non compliance of TDS.

Thanks & Regards
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
06 February 2012 You are not deducted wrong tds because as per your explanation the supplier not crossed the threshold limit i.e no need to deduct TDS as per the act but you have deducted @1% TDS i.e excess deducted as per the law or act specifies. So as per my opinion you are not the default in deduction of TDS.
OM SAI SRI SAI JAI JAI SAI
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G.Ramesh

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G.Ramesh (Expert)
06 February 2012 Agreed with Mr.Tirumala, issue the certificate for the existing deduction , no need to deduct further
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Deepak

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Deepak (Querist)
06 February 2012 THANK u Sirji....
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