Tds query regarding refund??

TDS QUERY


 

WAT TO DO IF WE HAD DEDUCTED TDS  OF A DEDUTEE WHO WAS NOT HAVING PAN NO. @ 20% AND ITS TDS RETURN WAS FILED, AND LATER ON TDS RETURN OF SAME QUARTER WAS REVISED AND IN THAT THE FORMER DEDUCTEE TDS WAS ALSO REVISED AND DURING THAT TIME FORMER DEDUCTEE HAD OBTAIN ITS PAN CARD, AND AT TIME OF REVISION WE DEDUCTED TDS  AT PER RATES APPLICABLE TO IND/HUF(SAY), SO NOW THAT DEDUCTEE WILL GET ITS TDS REFUND ALONG WITH 20% AMT WHICH WAS DEDUCTED EARLIER???enlightenedblush

Replies (1)

You cannot revise return on the ground that assessee has obtained PAN. Even if it was not the ground, and you have revised due to some other reasons, you cannot revise that particular record. The requirement of deducting TDS, if assessee has no PAN at 20% is to be seen at the time of deducting TDS. Since at the time of deducting TDS, the Assessee has no PAN, the rate is 20%.

 

If you revise return in later date, and deduct tax in normal rate. Then, it means that you have deducted tax in that later date only, and not in earlier date. So, you will have to pay interest @ 1.5% p.m. from the date of original due date to later date of revised return.

 

But, in second case also, it amounts to furnishing of wrong information because, you had deducted TDS on earlier date and not in later date.

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