Claiming refund of axcess payment of tds

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HyperSonic (Querist)
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17 August 2011 The situation is that deductor deducted the amount after making payment. But accidentally recorded entry twice in books of accounts and deposited double TDS amount in bank. It only came under notice after issuing Form 16 to the deducttee.

Now What will be the procedure to claim refund for excess payment of TDS and what will happen to Form 16? Will it continue to reflect the double TDS deducted? I can not edit the challan amount nor I can delete the enrty because if I do software will not generate the upload file. So please help me in this regard.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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17 August 2011 Either you can adjust the excess payment with deductees one way

or amend the form 16 and tds return, and apply with your A.O for excess tds refund with compplete details for excess payment

HyperSonic

HyperSonic (Querist)
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17 August 2011 Well I think since returned has been filed, the excess tds has been credited to deductee already. He can't adjust that tds against his tax liability?..or can he?

As I said I can't amend the e-tds return since I have to change challan amount, and it will mismatch with online challan amount. So what are the option left for me?

Sorry this is really confusing me.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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17 August 2011 is the payment is to outsider i.e. contractor or employee. since you told form 16 i guess employee only.so he can adjusted his tax liability but in case he is not having any liability one option he can claim the tax refund income tax return and give back to company, because getting Income tax refund is very fast comparing the refund of excess TDS payment

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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17 August 2011 Anyway option is there in act for getting refund of excess TDS also

HyperSonic

HyperSonic (Querist)
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18 August 2011 I'm sorry I mean its Form 16A for payment to contractors. I'll look into act for refund of excess payment of tds. Thanks

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