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Tds deposited under wrong sec

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 August 2013 Dear all,

A Indian company has a ECB from DBS bank. The loan was taken in Feb,2013 and interest on it was paid in May,2013.Certificate of a CA was required for in 15cb. The rate of withholding tax was considered at 10% and certificate issued.But from 1.7.2012 the applicable rate is 5% U/S 194LC. can the CA firm re issue the certificate at the revised rate. I am asking this since for the first time remittance was made u/s 195 and now it has to be corrected to 194LC. is this possible? can this 10 % be adjusted against the next interest payment. I also want to know whether sec 194lc applies to only infrastructure companies or all companies
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Rupesh Jain

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Rupesh Jain (Expert)
08 August 2013 CA CERTIFICATE NOT REVISED AND NOT ADJ WITH NEXT PAYMET BUT YOU CAN SENC NEW REMITANCE AFTER 5%
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