Finance
654 Points
Posted on 26 May 2012
You can claim that TDS in the next quarter but within the financial Year.
There won't be conflict in that, it is being authorized by CBDT CIRCULAR NO. 2/2011 [F.NO. 385/25/2010-IT(B)], DATED 27-4-2011, As per the circular if you recognise the excess payment within the same FY then you can use that challan in the next quarter within the same FY.
In case, the detection of such excess amount is made beyond the financial year concerned, such claim can be made to the Assessing Officer (TDS) concerned. However no claim of refund can be made after two years from the end of financial year in which tax was deductible at source.