What if tds deducted @ 2% on individual u/s 94c
This query is : Resolved
27 July 2013
Dear All,
I wanted to ask that, although basic rate of deduction of TDS u/s 94C on individual is 1% but what if I deduct TDS @ 2% on individual contractor u/s 94C.
Will this attract any penalty OR Fine?
Or There will be no problem ?
Will there be any questioning regarding, why i deduct 2% TDS instead of 1%?
Please Reply !
I wanted to ask that, although basic rate of deduction of TDS u/s 94C on individual is 1% but what if I deduct TDS @ 2% on individual contractor u/s 94C.
Will this attract any penalty OR Fine?
Or There will be no problem ?
Will there be any questioning regarding, why i deduct 2% TDS instead of 1%?
Please Reply !
CMA Ramesh Krishnan
(Expert)
27 July 2013
Since deducted higher rate only. so there is no problem in the point of department
Only the party may ask you the question why the higher rate
Only the party may ask you the question why the higher rate
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