Tds issue

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
23 March 2013 Sir/Madam,

i want to know that any liablity arise on company when they deucte tds on rent by mistake 1%. and any solution for it.

23 March 2013 as it appears from the Question that Wrong rate of withholding tax considered instead of rate mentioned in law for the payment of rent. hence short deduction has been made by the company. the recourse for this is to deduct proper TDS as mentioned u/s 194I. than deposit to govt. in challan no. 281 along with the interest of 1% per month on short deducted amount.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
23 March 2013 but sir payment is given to party less 1% tds...so how to to recover.

23 March 2013
you have to take that much amount(9%) back from them so as to be in line with law

and then the withhold Tax would be @ 10%

23 March 2013 along with 1% you also have to pay interest @1.5% for late payment of TDS

04 November 2013 Agree with ca.sourabh sethia


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



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro

Follow us
add to google news


Answer Query



Company
ARTICLESHIP 18 June 2026
Article Assistance

RB KESHRI & CO.

Mumbai

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
19 June 2026
Accounts Executive

Getfive Advisors Pvt. Ltd.

Ahmedabad

CA Inter

View Details
Company
24 June 2026
Chartered Accountant - GST & Direct Tax

APL

Mumbai

CA

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
ARTICLESHIP 24 June 2026
ARTICLE ASSISTANT

BHUPINDER SHAH AND COMPANY

New Delhi

CA Inter

View Details