Festive Savings Are Here. Get 10% OFF on All CCI Pro Plans. Subscribe Now!

Tds deposited but with the wrong tan number

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

12 June 2013 We had deducted TDS on rent and professional fees for the month of November 2013. The TDS was paid immediately, but by error, the TAN number was wrongly entered. The error was noticed in the month of January, when we submitted a letter to the Income Tax department for correction of TAN.

When I met the Income Tax department on the 11th of June, I was told that the corrections would take another three to four months.

What I would like to know is :
1. Can we repay the TDS amounts?
2. What will be the interest rate?
3. How will the amount already paid be reconciled during the current financial year?

I request an answer since the professionals need to file their tax returns.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

12 June 2013 Follow -up the matter by requesting the Assessing Officer concerned as the time taken by him is unreasonable.
.
File an application with PRO for non-action of the AO.
.
Avoid to re-deposit the amount as the same will require to revise the return.
.
Interest rate is 1.5% per month for the delay.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now