TDS deducted but not deposited

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 September 2010 Friends,

Last year in our company tds has been deducted but not deposited for a vendor due to some problem in system. We have filed the returns by ignoring that payment. Now the party has been asking for form 16a.Now we cant issue the form because we have not deposited the tax. if we pay the tds with interest now, whether we can issue the form or not ? whether we have to file revised return or what ? Whether any other option is there ? or we pay directly to the party the tds amount ? If any of you knows the better solution of this situation pls sent a reply.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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30 September 2010 If the TDS liability for that party, is there, then TDS must be paid alongwith the late payment interest i.e from the month of deduction till June,2010 > 1 % per month. & from July,10 to till date : 1.5 % per month.

After that you can issue the form 16A.

You can also file the correction statement of your all those quarterly TDS returns, which includes the data of this particular party.

Querist : Anonymous

Querist : Anonymous (Querist)

01 October 2010 Thank u subhash kumar jha ji

we are doing the same thing as you said, and is there any other alternative for not filing revised returns.

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