TDS Deduction

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Service
356 Points Posted on 15 October 2020

i have deducted 10% TDS of a MSME vendor instead of 7.5%. is there any problem?

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On 15 October 2020 at 15:17 Report
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Quick Summary
A user mistakenly deducted 10% TDS for an MSME vendor when the correct rate was 7.5%. The advice given is that this is not an under-deduction. The user should proceed to deposit the TDS amount and ensure it is correctly reported in the TDS statement.

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Tax consultant
5895 Points Posted on 15 October 2020
Revised the TDS as per the current %
1 Reply
On 15 October 2020 at 18:37
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204 Points Posted on 15 October 2020
You have not deducted less TDS. deposit the TDS and appropriately report it in TDS statement
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On 15 October 2020 at 23:12

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