Tds deposit

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 April 2015 SIR,
WHILE MAKING PAYMENT OF TDS BY A COMPANY THE FOLLOWING 2 MISTAKES HAPPENED
1. INSTEAD OF OPTING COMPANY, NON COMPANY DEDUCTEE CHOOSEN IN CHALLAN NO.281
2. ENTIRE AMOUNT DEPOSITED U/S 94C INSTEAD BOTH 94C AND 92B
SIR I AM VERY MUCH WORRIED ABOUT THIS
PLEASE GUIDE ME

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

21 April 2015 Please contact the bankers to change the deductee type and Section under which tax was deducted . Please visit the link

https://www.tin-nsdl.com/oltas/oltas-note.php

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

25 April 2015 No issues. Just relax.

For Deductor’s convenience, CPC(TDS) has established processing logic in the system that can accept a Single Challan for reporting of Tax Deposited in following circumstances:

# Payment of Tax Deducted under different sections of the Income Tax Act, 1961
# The CPC (TDS) system gives credit of TDS against different sections of the Act, even though a specific section has been quoted in the challan.
# Example: The challan used for payment of TDS relevant to Section 192 of the Act can also be used for the purpose of reporting tax deposited under Section 194 of the Act also.

Also see below link in this regard:

https://taxguru.in/income-tax/single-tds-challan-purposesanalysis.html

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