Deductor deducted TDS on Rent u/s 194I @ 10% assuming Payee is Resident. Now, deductor came to know about non resident status of payee, he was liable to deduct @ 30% plus surcharge. What remedies are available apart from rectification which involves heavy penalty u/s 271H % 234E.
Are there any options available for deductor? (like furnishing 26A which is only applicable to resident payee)
I can not see any option. We have to pay the TDS with applicable interest for short deduction of TDS
CAclubindia
