Tds query
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 July 2014
I work with a Govt company.
I have made payment to a party and not deducted TDS on it. TDS had to be deducted @ 2% on that amount.
Now I need to rectify the problem of my last payment. What procedure should I follow.
We are ready to pay interest and deduct the TDS from the party's next payment.I am putting the facts:
1) Payment was made in February, April, May and June, 14.
2) No TDS was deducted on it.
Option which I am considering:
1) Deduct the TDS amount from the current payment for all the previous payments in the current date.
2) Pay the same with interest.
Question:
1) How to pay the interest amount (practically) like which challan??
2) How do I show it in the quarter 2 of 2014 return??
Please help me out its urgent
I have made payment to a party and not deducted TDS on it. TDS had to be deducted @ 2% on that amount.
Now I need to rectify the problem of my last payment. What procedure should I follow.
We are ready to pay interest and deduct the TDS from the party's next payment.I am putting the facts:
1) Payment was made in February, April, May and June, 14.
2) No TDS was deducted on it.
Option which I am considering:
1) Deduct the TDS amount from the current payment for all the previous payments in the current date.
2) Pay the same with interest.
Question:
1) How to pay the interest amount (practically) like which challan??
2) How do I show it in the quarter 2 of 2014 return??
Please help me out its urgent
31 July 2014
1) Pay feb 2013 TDS and Interest amount in a separate challan and April, may, june amount in a separate challan.
2) you will have to revise the FY 2013-14 4th quarter return and Fy 2014-15 1st quarter return.
3) you will have yo pay interest on late deduction of TDS @1% per month or part thereof.
4) for interest same challan which we use for TDS is to be used that is ITNS 281.
2) you will have to revise the FY 2013-14 4th quarter return and Fy 2014-15 1st quarter return.
3) you will have yo pay interest on late deduction of TDS @1% per month or part thereof.
4) for interest same challan which we use for TDS is to be used that is ITNS 281.
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