Tds submited 1 % instead of 10%

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This query is : Resolved

Sunil (Querist)

20 August 2011 Hi All,

I have wrongly submitted 1% tds instead of 10% on professional services in the month of june 2011.
Unbelievablly but chartered accountant has filed the TDS return of the above quater and he does not intimate us this mistake.
i have deposited a single challan for three different tds deduction of three invoices but party was same.

Now what is the solutions of this mistake ?

Thanks in advance to all

H B BHASKAR SHENOY

H B BHASKAR SHENOY (Expert)

21 August 2011 Have you only committed the mistake in the return or have you deducted tax only at 1%?
Know that it is possible to file a correction return. Rectify and file a "correction" return.

Message likes : 1 times

CA.M Chowdary

CA.M Chowdary (Expert)

21 August 2011 if u have deducted the tds 10% but filed the return as 1% u can file the correction return.
however if u have short deducted the tds amount then u have to pay the tds short amount and file the correction return.
but before that verify the filed return to know under which section he showed the tds amount under section 194c or 194j

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)

21 August 2011 I agree with the experts

Sunil

Sunil (Querist)

21 August 2011 I have deduct only 1% instead of 10% . I have deduct as below mention
Rs. 273544/- tds amount Rs. 2735/- Rs. 44120/- tds amount Rs. 441/- Rs. 11865/- tds amount Rs. 119/-
all the tds amount deposited through only one cheque and by one challan only. all the tds u/s 194 J

So it means i have deducted wrong tds amount. Plus Chartered accountant filed the return with 1% tds which i deducted, it means he was also incorrect. and filed incorrect Return.

Now my question is how should i deposite new challans ? only one challan or sepret for every transaction ? all the payments are belongs to only one party .

CA.M Chowdary

CA.M Chowdary (Expert)

22 August 2011 pay seperate challana and file a revised return

H B BHASKAR SHENOY

H B BHASKAR SHENOY (Expert)

22 August 2011 Since it is different amounts and you will find it easier to relate the remittances to payments when you file the return, it is advisable to remit through separate challans as advised by Shri Chowdry

SUNIL

SUNIL (Expert)

23 August 2011 PAY THE DIFFRENCE AMOUNT WITH SEPARATE CHALLAN AND FILE REVISE RETURN.

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