TDS

Harsh (Querist) 05 July 2011 This query is : Resolved
What is the remeady available if the firm filed TDS by mistake? wheather the firm is liable for commision to the person who is taking the goods from the firm for selling on the basis of comission?

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Amit Soni (Expert) 05 July 2011
For rectification of mistake you can file a revisd TDS return.
Regarding the query of TDS on commission, the answer is yes firm is liable to deduct tax on payment of Rs. 5000 or more as a commission in a financial year.

prabhakar singh (Expert) 05 July 2011
I agree with Mr.Amit Soni

Raj Kumar Makkad (Expert) 05 July 2011
You have rightly deducted TDS as it was required to be deducted so there is no need to file revised TDS return now.

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