Hello
We have to file TDS Q4 return. We had deducted TDS from director's salary based on data available.
Today it was realized that there was a wrong date calculation in Equity capital gain of a director (short term gain was considered as long term by mistake - around April 2017) and hence it was not considered as taxable income for calculating TDS deduction from salary of the director.
But now that we realized it .. should we disclose the same in TDS return OR not (under Income from other sources)
If we declare it then there is around 13000Rs difference in TDS calculation.
So I am wondering if this can cause any problem for the Company or Director?
Note: Advance tax was paid by director for Rs 10000 but TDS Q4 return does not ask for advance tax detail. Hence TDS difference seems high whreas its just 3000Rs+interest
PS: Director will show it in his ITR.
CAclubindia
