Sir,
I want to do correction in TRACES for 27Q for a deductee, for Q1 of FY 2018-19. While modifying deductee details, it is asking "whether the rate of TDS is as per IT Act (a) DTAA(b)". It is giving me two options A and B. What is the difference?
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27q correction
Replies (3)
Whether the deductee is resident or non resident?
Sir, he is NRI. TDS is deducted at 10.4% . We got short deduction notice. I requested for 27Q correction. I noticed that wrong country was selected. So i selected correct country. Then it is is asking whether the rate of TDS is as per IT Act(a) or DTAA(b) and giving me two options, A and B.
From the relevant data, I can easily presume that the tax has been deducted u/s. 195 of IT act. So, if 10.4% rate is selected as per the said act, select option A.
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