ADJUSTMENT OF EXCESS TDS PAID
This query is : Resolved
08 February 2010
hello Experts!!!!!!!
1 of our client has deposited excess tds amt of Rs 12000 . whereas the tds liability for that month was Rs 10000.
both liability & payment was u/s 194c.
plz let me know what are the remedies available & help me in getting out of this situation...............
1 of our client has deposited excess tds amt of Rs 12000 . whereas the tds liability for that month was Rs 10000.
both liability & payment was u/s 194c.
plz let me know what are the remedies available & help me in getting out of this situation...............
08 February 2010
as per theoritical method make application to A.O. But I didn't see yet any case in which Income tax refund TDS.
In practical see next month TDS bill if possible adjust it with that month in which TDS is more. by this you can adjust other's TDS with some else. Because you didn't provide detail with deposit so in return you can easily adjust.
for example if you deduct tds of A Rs. 10000 but paid 12000 in Nov 09. Check bill in Dec if there is bill of B in Dec in which TDS 194C to be deducted then adjust it with Nov excess. When you will file return in 15 Jan then adjust both.
In practical see next month TDS bill if possible adjust it with that month in which TDS is more. by this you can adjust other's TDS with some else. Because you didn't provide detail with deposit so in return you can easily adjust.
for example if you deduct tds of A Rs. 10000 but paid 12000 in Nov 09. Check bill in Dec if there is bill of B in Dec in which TDS 194C to be deducted then adjust it with Nov excess. When you will file return in 15 Jan then adjust both.
Message likes :
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08 February 2010
thanx sir
bt if tds deposited in nov & adjusting it in december"s claim then will it not amount to tds deposited in adavnce???
can we do so?????
bt if tds deposited in nov & adjusting it in december"s claim then will it not amount to tds deposited in adavnce???
can we do so?????
Message likes :
1 times
08 February 2010
It is advance only but it will not be a problem you can adjust
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