Excess payment of tds on interest

This query is : Resolved

PRAVEEN KUMAR SHARMA (Querist)
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08 October 2015 Dear sir,
in a private limited amount OF TDS ON INTEREST IS 4960. BUT WRONGLY DEPOSITED OF RS 49660.00 SO I CAN TO ADJUST IN NEXT QUARTER.
SOLVE MY THIS QUERY URGENTLY.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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08 October 2015 Yes you can adjust the excess amount of TDS deposited in next quarter.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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13 October 2015 In case tax has been deposited more than the required tax deducted at source for a particular Assessment Year, the excess amount of tax can be claimed in the following quarters of the relevant year. The balance amount if any, can be carried forward to the next year for claim in the TDS statement.
• Example: If excess payment of Tax has been made in Quarter 1 of financial year 2013-14, the same can be used for Quarter 2,3&4 of F.Y. 2013-14 as well as for Q1 to Q4 of F.Y.2014-15. The excess amount of tax paid in Q1 of F.Y.2013-14 can also be used for payment of tax default of Q1 to Q4 of F.Y.2012-13.

Refer: CPC(TDS) Communication dated: 10.09.2015

Link:

https://contents.tdscpc.gov.in/en/tdscpc-communication69.html

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