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TDS Revised rate related
The Govt reduce the TDS rate by 25% wef 14/05/2020. But what if any deductor is continuing deducting TDS at old rate by mistake or intentionally? Is there any penalty for this act?
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Quick Summary
If any deductor deduct TDS at existing rate by mistake or intentionally then there are no penalty...
There is no penalty, if you deducted at old rate, i.e higher rate and deposited it to the government.
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