TDS Certificate not provided by licensee

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ROHIT SETHI (Querist)
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16 September 2009 Hi. the licensee has deducted TDS at 10.3% which actually should have been 16.995% on the rental income. he wants me to now to refund him the amount which he did not deduct and only on doing so will he provide me the TDS certificate. I want to know whether i need to abide by it or not, since i have already paid a good amount of advance tax due to the licensee's mistake of deducting less tds.

CA Debasish Banerjee

CA Debasish Banerjee (Expert)
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17 September 2009 It is the liability of the deductor to deduct correct TDS and if he had made a mistake he has to correct it. Even if you had paid the tax on the income it does not reduce his liability to deduct the correct Tax. You can always take a refund but your deductor has the risk of expenses being disallowed for not deducting TDS. So, you should co-operate and take the TDS and claim refund. Atleast you have the recourse of taking refund of excess paid.

ROHIT SETHI

ROHIT SETHI (Querist)
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17 September 2009 SO YOU ARE SUGGESTING I PAY HIM THE EXCESS FIRST AND THEN ASK HIM TO PAY THE TOTAL TDS AND PROVIDE ME THE TDS CERTIFICATE?

Rajeev

Rajeev (Expert)
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17 September 2009 yes kindly do so , otherwise he will deduct in future payments

CA Debasish Banerjee

CA Debasish Banerjee (Expert)
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01 October 2009 follow the rule of "live and let live" it is always safe and peaceful

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