TDS DEDUCTED UNDER WRONG SECTION OF INCOME TAX ACT
This query is : Resolved
24 March 2008
Dear Members
Plz give me solution
My Co. wrongly deducted the TDS from the party means the said party was an real estate broker so insted of sec 194H, I had deducted under sec 194I @ 20.60%.
So, how can i deposit the TDS amount(i.e in Bank) and how can I set up this problem?. How can the party will get back the excess amount????????
Plz give proper solution
Plz give me solution
My Co. wrongly deducted the TDS from the party means the said party was an real estate broker so insted of sec 194H, I had deducted under sec 194I @ 20.60%.
So, how can i deposit the TDS amount(i.e in Bank) and how can I set up this problem?. How can the party will get back the excess amount????????
Plz give proper solution
25 March 2008
From your query, i understand that you have not paid the deducted amount to central government (in bank).
So better raise a credit note for the balance amount and pay immediately before 31st March,2008.
Otherwise the broker will not get that credit.....
So better raise a credit note for the balance amount and pay immediately before 31st March,2008.
Otherwise the broker will not get that credit.....
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