21 July 2019
In March, 2019, We made a payment of interest to non resident individual. At the time of payment TDS was deducted u/s 194A @ 10% and TDS return was filed accordingly.
After filing of TDS return, it is observed that TDS was to be deducted u/s 195 and not under section 194A.
What can be implications of this mistake? What we can be done to rectify the mistake? TDS Rate u/s 195 will be 30% plus cess? Can Challan of 194A be used for paying liability u/s 195? (if rectification is done) Can
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