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).

CA Kumar Mukesh

CA Kumar Mukesh (Expert)
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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...

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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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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