Income tax department has issued notice regarding short fall of TDS U/s 194A for F Y 07-08. Short fall is Rs 126250/-. In this case, I have some question.
1) If we have to pay above recovery , which challan code should be mentioned on TDS Challan, means TDS/TCS Payable by Taxpayer Code No 200 or TDS/TCS Regular Assessment (Raised by I.TO.Deptt.) Code No 400.
2) Also ,after recovery of such amount from respective parties, Form No 16A should be issued or not.? If yes, for which year 07-08 or 10-11.
3) Also, revised TDS return should be submitted or not.
4) If recovery amount is debited to each respective parties a/c . All parties has submitted there Income Tax Return for F Y 07-08. Then what is procedure of refund ? Can such amount be claimed in F Y 10-11.
Regards
Pankaj Sonar
CAclubindia
