On warehouse rent the tds is by misakenly applie u/s 194C and not u/s 194I (Rent) since July09, but now find out that it is our mistake. now we are making the payment of the same with interest. So my question is whether i need to revise my Q2 tds return and show that vendor under rent instead of contract. pls suggest ?
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wrong TDS rate applied by mistake
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| Originally posted by :Dilip | ||
| " | On warehouse rent the tds is by misakenly applie u/s 194C and not u/s 194I (Rent) since July09, but now find out that it is our mistake. now we are making the payment of the same with interest. So my question is whether i need to revise my Q2 tds return and show that vendor under rent instead of contract. pls suggest ? | " |
yes please revise the return, before dept calls u up one fine day... :)
agree with G.K.
sunil
yes u can very well revise it asap
I had already made the payment u/s 194C and now want to make the payment u/s 194I. so how i will change it in challan because as per Challan enquiry it will not match.
even if we dont revise the return then it will be no issue .........only the difference amount which we have fall should that should be paid with interest(for delay payment)......or either the alternative option is to revise the return.
not satisfied with bijay
just revised the return and pay the balance tax with interest
I think Mr Pawan is right
you should revised your return and pay your balance tax with interest
Mr. Pawan is right. You should pay the balance tax with interest and revise the Q2 return.
Hi,
You just calculate the amount of TDS u/s 194I and pay it with interest.
And set off the current month 194C Liability with upto wrongly Paid in JUNE09. so there is no need to alter the challan and revise the Q2 return.
revised return is intended for errors and ommissions only. You should flle the revised return
yes you should revise the return and previously deposited tds shall not be used because it was deposited u/s 194c it can be adjusted against any future payment made to a contractor on which tds will be deductible u/s 194c now you should deposit the amount of tds along with interest u/s 194i.if payment has been made to the party this extra payment should be recovered from the party.
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