EXCESS TDS PAID
This query is : Resolved
TARIQUE RIZVI
(Querist)
20 October 2020
Sirs,
We have paid a sum of Rs 50,000 on account of TDS instead of paying Rs 48,000. Simultaneously we have to pay a sum of Rs 1800 on account of interest on TDS. Challan Amount is Rs 50,000 out of which TDS is Rs 48,000 and balance sum is Rs 2,000 as an excess paid inadvertently. Please let me know how to off-set the interest liability of Rs 1800 against the excess of Rs 2000.
We have paid a sum of Rs 50,000 on account of TDS instead of paying Rs 48,000. Simultaneously we have to pay a sum of Rs 1800 on account of interest on TDS. Challan Amount is Rs 50,000 out of which TDS is Rs 48,000 and balance sum is Rs 2,000 as an excess paid inadvertently. Please let me know how to off-set the interest liability of Rs 1800 against the excess of Rs 2000.
CA R SEETHARAMAN
(Expert)
21 October 2020
Show the same challan against interest payment it will be allowed. Any excess payment of TDS can be adjusted against subsequent payment.
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