Sir,
As per Govt. notification TDS rate has been reduced by 25 percent, from 14th MAY.
But TDS deducted @ 10 percent instead of 7.5 percent under 194J and deposited in government account erroneously.
example. invoice dated 23rd May of Rs. 10000/- . Tds deducted Rs. 1000 in liew of 750. and deposited on 3rd June.
now what can be done, is there any solution available?
please guide...
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TDS rate change consequences
Replies (4)
Adjust 2.5% in other payment.
You may deduct the defence in subsequent payment
The extra deduction can be adjusted against any other payments
You just need to map the challan correctly in the TDS return
You just need to map the challan correctly in the TDS return
Thanks for the update....
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