suggestion for wrongly TDS payment

One of our customer had booked the expenses (say) in March 2008, but the corresponding TDS has actually paid say in June 2008 (not by a separate challan and not even paying the interest ) . Now in June 2008, they had deposited the TDS along with the other TDS of June 08. They had filed the return for June 08 in July 08 showing the TDS pertaing to March 08 correspondingly showing the expenses also. We can understand they had committed mistakes, but can anybody suggest a best possible solution keeping in mind the problems of 

1. not splitting the amount of TDS mentioned in challan for June 08

2.  Return already filed in March 08

3. return already filed in April to June 08.

Replies (2)

I think you'll have to revise both the returns. Although the amount cannot be split, however in both the returns you can show the actual amount paid corresponding to the less amount deducted. E.g If total payment is Rs.100 and Rs. 60 is pertaining to March quarter and Rs. 40 pertaining to June quarter, in March quarter show it as deducted Rs. 60 paid Rs. 100 and in June return show it as Rs.40 deducted and paid Rs. 100. Incase you receive a notice from department you can clarify the case. This is an genuine error. However pay the interest amount also beforehand.

The TDS should be deposited on the 7 of next month in which the amount has been credited or paid which ever is earlier. In case of TDS deducted on 31 march the cut off date is 31 may for which a seperate return is filied.

You have deposited TDS in June. So the amount would reflect in Apr to June return.The only default is  you havenot  paid the interest on late deposit with the amount of TDS amount.

There is no question of splitting the amount of the TDS for June.

You should pay the interest amount and just revise the apr - june return with int amount.You dont have to revise March return.

Morever the expense would be allowed foe the assessment yaer2008-09 as per ammendment in sec.40(a)(ia) 

 

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