TDS wrongly deducted under Nature of Payment

Sir, I have wrongly deducted the TDS under Natre of payment instead of Commission (94H) deducted under Contract (94C) for last F.Y.. Now how do I rectify this error. Pls advice

Thnks

Replies (1)

 

Dear sir

As u have wrongly deducted the amount in the current year, the rate of deduction u have applied must be differ from the rates of should have been applied over there. Also the short deduction would result as proportionate disallowance of amount of expenditure as per the 40a(ia) of IT act 1961.

 

The remedy in such situation will be to deduct the remaining amount before the end of last day of the previous year and the payment of such deducted TDS can be made upto the due date of filling of return (as amended by the Finance act 2010) for the Ay 11-12.

 

For further clarification, please revert

 

Regards

Sandeep Thakur

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 21 September 2026
Consultant - Reporting

Finrep Advisors LLP

Mumbai

CA

View Details
Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
ARTICLESHIP 18 September 2026
Industrial Trainee

Twenty Point Nine Five Ventures Private Limited

Noida

CA Inter

View Details
Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details
Company
Featured 12 September 2026
Assistant Manager - Finance & Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
15 September 2026
Client-site CA associate

Aditya Muley and Co

Mumbai

CA

View Details