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Tds- wrong section code

TDS 187 views 3 replies

Muhammed

Chartered Accountant

251 Points Joined November 2013

Hi,

For a payment amounting to Rs. 40 Lakhs, TDS was supposed to be deducted u/s 194 C and was deducted u/s 194 J

My doubts are

1. Is it possible to change the challan which includes other deductions which is of professional nature

2. If we are paying the TDS u/s 194 C then should we have to pay interest on the same?? as there is no deliberate delay in payment terms

Kindly help on the above matter

Replies (3)

Sundararajan S

Final Student of ICAI

1764 Points Joined December 2015

Sir section code in Challan doesn't matter. Though you have paid by selecting 94J you can file return mentioning 94C. Also one Challan can be used for multiple entries irrespective of section.

Muhammed

Chartered Accountant

251 Points Joined November 2013

Then what would be status of unconsumed challan 3.2 Lakhs will remain as unconsumed after adjusting the above can we use the same in upcoming quarters ???

CA Inderjeet Sunda

Chartered Accountant

355 Points Joined March 2013

Any challan can use in Against a statement. Your unconsumed challan will remain unconsumed. It is better to adjust against entries of upcoming quarter by considering in Current Quarter.