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TDS payment mistake in section

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Dear friends,

 

The accountant of a company was making TDS payment U/s 194I [rent], but he entered section on challan as 194J {Professionals].

How should he rectify the mistake while submitting TDS return?

Thanks

Replies (2)

 

Dear Nandha kumar Sir,

                                         You can (1) request the banker to change the section code. ( Many of our club members have done this. See some Q related to your Q. (If it is (1) not possible)) (2) if it is the  tds of the period from 01/10/2009 to 14/11/2010, you can use the same code while efiling the return because same rate for both  sec code ie 10%. So no effect will affect the deductee as well as you. 

                                            

Dear Shareef,

Thanks for your reply.

How can a bank interfere & change TDS code, because if this is allowed, it is dangerous & may lead to frauds. Once a e-payment is made, payment is credited to respective TDS code & nobody can change it.

Assuming that  TDS rates are different, I am told that the assessee should first file TDS return as per payment [with the wrong section]. Later on, he should file a revised TDS return & also send letter to AO expailing the facts & requesting that payment should be treated for correct section.

 

Pls let me know if this is correct.

Regards


CCI Pro

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