adjustment / refund of TDS
This query is : Resolved
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?
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?
25 March 2010
You can claim refund stating the reasons. It will take time but you can get it.
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
If the TDS return is filed you need to file the correction return and so excess TDS and adjust in next quarter
27 March 2010
agree with expert
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Pass word to open justification report for Q1 for FY 2026-27
- Gift of mutual fund units to daughter
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Not able to file ITR
- Building tax payment deduction in rental Income
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
