In a maintenance contract during the FY 2006-2007 we have deducted TDS u/s 194C. Our Auditors pointed out that TDS was to be deducted u/s 194J and are insisting that balance TDS should now be recovered from the service provider and deposited in Govt treasury. Is is possible to recover the balance amount of TDS due in the FY 2006-2007 to be recovered from the service provider in the current FY. If yes, How? Kindly Advice.
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Additional TDS
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THE OTHER PARTY WILL NOT PAY BACK YOU THE SHORTFALL IN TDS AS THE DATE TO FILE REVISED RETURN FOR FY 2006-2007 IS OVER ON 31ST MARCH 2009 AND THERE IS NO WAY THAT HO COULD CLAIM THAT EXCESS TDS EVEN IF YOU ISSUE THEM A NEW TDS CERTIFICATE.THUS YOU CANNOT RECOVER IT FROM THAT PARTY.
BUT IF AUDITOR INSISTS THEN U HAVE TO BEAR THAT TDS AMOUNT AND DEPOSIT IT TO THE GOVT. ALONG WITH INTEREST @ 1% P.M. OR PART THEREOF FROM THE DUE DATE TILL THE DATE OF PAYMENT.
BUT HOW COME THE AUDITORS POINTED OUT THE SAME SO LATE?
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