02 January 2008
by mistake we have deducted tds @ higher rate than as applicable to contracts & professionals and paid to the dept. can we issue a certificate as deducted & paid or as rates applicable, pl. advise
02 January 2008
you should issue TDS certificate for the actual tax deducted, this will enable the deductee to get claim the full amount of TDS credit.
You mention that you have deducted a higher rate than applicable. In that case, its the discretion of the vendor. If the vendor is aggreeable for the higher deduction, you may issue certificate for the higher rate.
CAclubindia
