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Tds

ubhat (Others) (40 Points)

04 June 2015

we have deducted tds for contractors in March2015 but short paid the collected amount by Rs.20000 during epayment.and tds filing has been done on 15 th may15.we will pay 20000 this month but how to convince the contractors

ubhat

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2 Replies

CMA Poornima Madhava (CMA) (13117 Points)
Replied 04 June 2015

As u say u have already deducted tax in Mar 15 but going to pay now, u need to pay interest @ 1.5% pm or part thereof, from the date of deduction till date of payment
If the above is done, u need to revise the TDS return and furnish the contractor form 16A for the same.

Sonakshi Mangla (Employee) (310 Points)
Replied 05 June 2015

You will be depositing the tds now but in which year's return you will show that is the ultimate question. If you will be rivising the return filed for 4th Quarter, then the contractor will not be having any objections. He will be convinced as and when you will issue him the form 16A.