Tds short payment
This query is : Resolved
15 November 2014
hi what is mean by short payment in TDS and how it is calculated?
CMA Ramesh Krishnan
(Expert)
15 November 2014
Shortage between the TDS amount need to be calculated and to be paid as per rates specified in the section and the actual amount you have deposited for that section tds
15 November 2014
Ex 1.
Say you have deducted TDS @ 10% u/s 194A. But the PAN is not correct therefore system will calculate 20% TDS and you will receive notice for Short Deduction of remaining 10%.
Ex 2.
You deducted TDS @1% 194C whereas TDS should have been deducted @2% so there is a short deduction of 1%.
Hope its clear now.
Say you have deducted TDS @ 10% u/s 194A. But the PAN is not correct therefore system will calculate 20% TDS and you will receive notice for Short Deduction of remaining 10%.
Ex 2.
You deducted TDS @1% 194C whereas TDS should have been deducted @2% so there is a short deduction of 1%.
Hope its clear now.
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15 November 2014
When TDS payment made to government are less then actual tax deducted, it is short payment of TDS.
Suppose u deducted Rs. 10 TDS but u paid to the government only Rs. 8 then Rs. 2 are short payment.
Suppose u deducted Rs. 10 TDS but u paid to the government only Rs. 8 then Rs. 2 are short payment.
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