Excess tds adjustment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 August 2015
Sir,
We have created Liability for f/y 2014-15 Rs 500000- and TDS deducted @ 1% Rs 5000/- next next year actual bill comes Rs 400000/- can I set off TDS on balance amount in bill related to current year. (i,e. bill for the month of April 2015).
We have created Liability for f/y 2014-15 Rs 500000- and TDS deducted @ 1% Rs 5000/- next next year actual bill comes Rs 400000/- can I set off TDS on balance amount in bill related to current year. (i,e. bill for the month of April 2015).
CA Kumar Mukesh
(Expert)
05 August 2015
No excess deductuon can be adjusted in the same year you can't carry for next year...
You need to deduct again for next year even if excess deduction made in last year...
You need to deduct again for next year even if excess deduction made in last year...
05 August 2015
Only in current year's quarter u can adjsut but not in different years nor it can be c/f in next year
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