Tds returns

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 December 2012 i had filled the tds returns for A Y 2012-13, under section 194(I), the client hires the machinery so he deducted TDS at 2%, we filled the return but the income tax office send the notice of short deduction & said to deduct the TDS at 20%, we are already deducted the TDS & also issued the TDS certificate , now tell me what to do ?

CA Chirag Haraniya

CA Chirag Haraniya (Expert)

10 December 2012 Reply to the notice that your client has hired Machinery therefore he has rightly deducted TDS u/s 194I @2% on value of rent.

Provide copy of bills alongwith your reply to avoide future hassle from Income Tax Department.

Chirag M. Haraniya

srinivasan

srinivasan (Expert)

11 December 2012 The notice is issued proposing 20% TDS means the PAN quoted is invalid. You need to get the correct pan from the vendor and file a correction statement with the tin facility centre and file the acknowledgement copy to your TDS officer seeking to pass a rectification order u/s 154 and get the demand nullified.

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