Tds remitted under different section

TDS 1560 views 1 replies

HAI MEMBERS,

IM DOING E-TDS AND GOT CONFUSED AS BELOW.. PLZ GUIDE ME.. ITS URGENT.

 

SITUATION:

1. TDS DEDUCTED AND REMITTED FOR INTEREST PROVIDED BY BANK DEPOSITS.

2. TDS DEDUCTED ON TWO HEADS

              a) DOMESTIC DEPOSITS

             b) NRO DEPOSITS

 

MISTAKE DONE:

TDS DEDUCTED U/S 195 @ 30% ON NRO DEPOSIT INTEREST HAS BEEN WRONGLY INCLUDED THE TOTAL SUM REMITTED VIDE U/S 194A.

 

CONFUSION:

ON PREPARATION OF ETDS

FOR SEC 194A  THE FORM WILL BE 26

FOR SEC 195  THE FORM WILL BE 27.

NOW. HOW DO I INPUT THE DATA IN WHICH FORM OF TDS RETURNS???

IF I GO FOR WITH FORM 27... I CANNOT MENTION CORRECT CHALLAN DETAILS BECAUSE OF REMITTED UNDER DIFFERENT SECTION.

IF I GO FOR WITH FORM 26... I MENTION THE CHALLAN PARTICULAR AS CORRECT. IF I ADD THE NRO TDS PARTICULAR WITH FORM 26 HOW DO I MENTION THE RATE AT WHICH TAX DEDUCTED? (ACTUAL DEDUCTED AT 30% APPLICABLE TO SEC 195)

SO PLEASE GUIDE ME.. WHAT SHOULD I DO AND WHAT IS THE REMEDY FOR THIS MISTAKE?

 

THANKS AND REGARDS,

N. RADHAKRISHNAN., CA-IPC

 

 

 

            

 

 

 

Replies (1)

ONLY SOLUTION IS FILE BOTH RETURNS 26Q AND 27Q . FILL DETAILS OF CHALLAN U HAVE DEPOSITED IN CHALLAN DETAIL. IN FORM 26 Q , AMOUNT WHICH U HAVE DEPOSITED FOR NRO MENTION IT IN OTHERS COLUMN AND ACTUAL TDS DEDUCTED FOR DOMESTIC DEPOSITS IN TDS COLUMN . THEN TOTAL OF CHALLAN WILL BE AS PER ORIGINAL CHALLAN AMOUNT.


 

IN FORM 27 Q,AMOUNT WHICH U HAVE DEPOSITED FOR DOMESTIC DEPOSITS MENTION IT IN OTHERS COLUMN AND ACTUAL TDS DEDUCTED FOR NRO IN TDS COLUMN . THEN TOTAL OF CHALLAN WILL BE AS PER ORIGINAL CHALLAN AMOUNT.


OR GO FOR CHALLAN CORRECTION IF POSSIBLE


https://chdca-professionals.2327533.n4.nabble.com/TDS-CHALLAN-CORRECTION-MECHANISM-tp134.html


TDS DEDUCTED U/S 195 @ 30% ON NRO DEPOSIT INTEREST HAS BEEN WRONGLY INCLUDED THE TOTAL SUM REMITTED VIDE U/S 194A.


TDS RATE U/S 195 ON NRO DEPOSIT IS 30.9 % INCLUDING EDUCATION CESS . TDS RATES A/Y 2014-15

 


https://www.chdcaprofessionals.com/2013/05/TDSTCSRATESFY201314.html


 


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