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adjust ment / refund of TDS

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(Querist)
25 March 2010 Hi..
There is a situation where the expense was booked and TDS was correctly deducted. The same is paid to the credit of govt in due time. Later the transaction got canceled and the entry exp is now reversed. and Money is due to the party. he 'll demand the full money but the question is in such case, what to do abt the TDS payment already made??

To claim refund? (if yes, how?)
To adjust with the expenditure of the other party?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
25 March 2010 If the TDS return not filed you can adjust the same payment for some other deductees.

If the TDS return is filed you need to file the correction return and so excess TDS and adjust in next quarter
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