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Categories  >>  Accounting  >>  Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions
 Taxation interview questions  Taxation Interview Questions
 Accounting General interview questions  Accounting General Interview Questions
 Accounting AllOther interview questions  Accounting AllOther Interview Questions
Question
If suppose we wrongly deduct the TDS on professional fees 
then what to do?
 Question Submitted By :: Heranb
I also faced this Question!!     Rank Answer Posted By  
 
  Re: If suppose we wrongly deduct the TDS on professional fees then what to do?
Answer
# 1
if professional Fees Exceed more than 20000/- of
partly/lupsum payment.then liable to be deducted for TDS,but
as per your question you are wrongly deducted tds
then,,check total amount paid to professional fees and which
amount deducted by you. if tds amount less than from
deductable amount then you can deducted tds next paybale
amount.if you are already deducted more than actual TDS
amount then no issue.it is safe point of you.it is refund
taken by professional then submit return. professional fees
rate(10%.if future you can't contact professinal then you
can demand short TDS amount and it will be refundable by
income tax department when he/she submit return
 
Is This Answer Correct ?    4 Yes 0 No
Tarun
 

 
 
 
Other Taxation Interview Questions
 
  Question Asked @ Answers
 
what is the exact meaning of cst? what is its usage and what are the benefits of c form?  1
Please tell me about TDS, VAT, CST, Service tax with latest rate? TVS7
Iam 1 truck owner and tds diduct in my trucks bills.How can i refund the tds amount. if any forms to do this.pl tell me.  1
i want current year tax deduction source please let me know?  3
I want know about the type of taxes? Why a company charged lesser tax against the 'C'form. what is th role of 'C' form and what is the custome duty and percentage of custome duty?  2
how to pass entry for VAT return adjustment entry?  1
what is 'c' form and form 'H' and why these form used in a company. pl tell me  2
If X is an Professional Employee of ABC Ltd. and earning Rs.30000 pm (TDS u/s 194J is applicable) for Taxation purpose. Car loan has been taken on his income and Car has been registered on her wife's (spouse) name. EMI going through "X"'s (an employee)Bank account. Can he show the Interest on Car Loan in his IT returns???  1
profarma of computation of total income?  1
this is regarding the C form. suppose Mr A registered dealer in Haryana and Mr B registered dealer in UP and Mr A issue a Purchase Order which include 4% CST on Price to Mr B for purchasing the goods. In this scenario, is Mr A is required to issue the Form C to Mr B?  3
what is the rate of TCS tax? TCS2
I have issued an invoice to a client in which i have charged service tax but I have not received any amount against that invoice. In this case when is service tax payable.  5
what is meaning of education cess?and y is it levied?  4
Journalise the following Entries? Outstanding salary of rs. 20000/- Prepaid insurance of rs. 5000/- OPI11
One bill of Rs.200000/- for Machinery hire issued by party, but total bill is reversed by me to party. In this matter what is the TDS Deduction entry I can made or not?  2
1. while making invoice of import ups then dealer charge the service tax then it is included in the bill or not. 2.Or we make to separte invoice for service charges.  1
A Company income 150000, and an indivisoul which income 150000 who pay more tax ?  4
TDS Reimbursment? Iam 2 tipper owned small transporter and TDS diduct in my transport bills. can any body tell me how can i reimburse my TDS and what are the procedure for reimbursment and what are forms, papers to be required, tell me please.  1
EXPLAIN ABOUT TDS?  8
How much percent will take basic salary on gross salary ?  4
 
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