PONNU.N (chief Manager) (30 Points)
22 November 2011There is a provision to enter TDS Interest amount in challan Format.
But no such provision to enter TDS Interest in deductees record.
How the challan amount tally with deductees total amount?
How the department will reconcile the Interest for belated TDS recovery?
Ple. clarrify
The interest you pay for late deduction is a penalty levied by Govt. Hence it goes to govt. only not to the deductee. In the Challan details column it is provided but not in the deductee
Hence enter the interest in the last but one column of challan details i.e next to column no.413 (here the interest column is not numbered)
If you enter like this you will not get any difference in the challan amount and deductees total.
say challan is 1009 interest is 111 = 1120.
If you enter as said above in the deductees parcticualrs annexure on choosing this challan you get the amount of Rs. 1009 only not the 1120 paid with interest.
Hence no discrepancy will arise.
(of course you can wait for others comments)
GOVINDARAJU PERUMAL
(ADDITIONAL CHIEF MANAGER FINANCE)
(26 Points)
Replied 15 October 2016
Suitable reply given
Live Course on EPF & ESI Act - Mastercourse(With Govt Certificate)
CAclubindia
