Tds rectification..
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 April 2015
SIR, WE HAVE PAID TDS UNDER 94C - in feb'2015( CONTRACTOR ) INSTEAD OF 94I ( OFFICE RENT ) AN AMOUNT OF RS.4500.00 FOR the period Q4. HOW IT WILL BE RECTIFIED,PLEASE advice. THANKS IN ADVANCE RAMA
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Read more at: https://67.227.132.5/experts/ask_query.asp
25 April 2015
No rectification is required. File quarterly TDS return with 94I showing the payment under the already paid challan TDS return will be accepted.
From FY 2012-13 onwards the Section Code quoted in the challan for payment of Tax deducted is no more relevant. Deductor can quote any Section Code on the challan for payment of TDS under other codes also. There will be no challan mismatch and no consequent tds demands in this case. Since, the section code is no more relevant therefore CPC (TDS) has introduced a system where a single challan can be used for payment of TDS under different section codes. Single Challan can be tagged in the TDS Return for payment of TDS under different sections. This comes as a welcome relief for many deductors who have to deposit multiple challans for depositing TDS under various sections. For Example: A Challan of Rs. 10,000/- can be used for payment of Tds U/s 194C of Rs. 4000/- and Tds of Rs. 6000/- U/s 194J.
From FY 2012-13 onwards the Section Code quoted in the challan for payment of Tax deducted is no more relevant. Deductor can quote any Section Code on the challan for payment of TDS under other codes also. There will be no challan mismatch and no consequent tds demands in this case. Since, the section code is no more relevant therefore CPC (TDS) has introduced a system where a single challan can be used for payment of TDS under different section codes. Single Challan can be tagged in the TDS Return for payment of TDS under different sections. This comes as a welcome relief for many deductors who have to deposit multiple challans for depositing TDS under various sections. For Example: A Challan of Rs. 10,000/- can be used for payment of Tds U/s 194C of Rs. 4000/- and Tds of Rs. 6000/- U/s 194J.
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