One of the company has deducted TDS under the threshold limit specified under 194C.
Sum credited does not exceed 30,000 but still TDS was deducted @ 1%. What are the options for deduction under the specified provisions?
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What if TDS is deducted under the threshold limit ?
Replies (9)
Quick Summary
It's never a problem when you give the taxwallahs more tax than you should... they will never complain!
The actual TDS amount can't be too high anyway - less than Rs 300 - so ideally your supplier should be okay with it, and they can simply take the credit for the TDS. There's no real loss to anyone.
If they don't agree, you can revise the return and swap out this supplier for another one. It doesn't matter which section the new supplier falls under, just match the TDS and basic amounts. You can even split a payment / deduction.
If it seems to complicated for a small amount, pay the supplier the difference and write it off.
Deduct tax provide tds certificate. The deductee will claim .
@ Shivam ,
For which month ?
If you have not paid tds yet then refund it to the deductee.
If Tds is already paid then issue the form 16A
For which month ?
If you have not paid tds yet then refund it to the deductee.
If Tds is already paid then issue the form 16A
Paid tds means.
If Tds is deducted for May then deadline will be 7th June for Tds payment.
So if tds is not paid yet to dept then you may refund the tds to deductee
So if tds is not paid yet to dept then you may refund the tds to deductee
That depends
@ Shivam
Can you tell me which month tds it is ?
Has it paid by the deductor?
Can you tell me which month tds it is ?
Has it paid by the deductor?
As I mentioned earlier, the amount in question seems to be less than Rs 300.
If I were you, I would first consider if that amount is worth the bother (especially in a situation where there is no rule violation or potential for penalty).
If TDS have been deducted by the deductor. You claim the TDS while filing your Income Tax return.
Collect Form 16A from the deductor.
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