Tds on interest on loan
This query is : Resolved
24 January 2012
Sir,
I have Pvt.Ltd Company and my vendor ( another pvt.Ltd Company) deducted TDS on Interest on Loan @ 20% ,which should be @ 10% for the F.Y.2010-11 . I have filed the return for the F.Y.2010-11 by claming TDS @10% on Interest @ but later on I came to konw that vendor deducted TDS on Interest @ 20% . what are the action taken for this,can we claim TDS 2 20% and how
I have Pvt.Ltd Company and my vendor ( another pvt.Ltd Company) deducted TDS on Interest on Loan @ 20% ,which should be @ 10% for the F.Y.2010-11 . I have filed the return for the F.Y.2010-11 by claming TDS @10% on Interest @ but later on I came to konw that vendor deducted TDS on Interest @ 20% . what are the action taken for this,can we claim TDS 2 20% and how
CA PARAS BAFNA
(Expert)
24 January 2012
You can file application for rectification U/s 154.
The Ao has to consider this .
Please also refer Section 155(14). On production of TDS certificate the Ao shall amend / oe pass an order.
The Ao has to consider this .
Please also refer Section 155(14). On production of TDS certificate the Ao shall amend / oe pass an order.
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