Excess tds payment adjustment
This query is : Resolved
arun laxman gaikwad
(Querist)
22 July 2013
Dear Sir
We have paid TDS on rent of Rs.212198 on 07/02/13 for the month of Jan.2013 i.e. for Asst.Year 2013-14.
In fact we have to pay TDS of Rs.45530 but we have paid Rs.212198 resulting in excess
TDS of Rs.166668. Now we wish to file TDS return of Rs.45530 in FY 2012-13 4th qtr against the challan mentioned above.
Now our question is whether we can adjust TDS Rs.166668 which was wrongly paid excess on 07/02/13 in TDS return of FY 2013-14 2nd qtr against rent payment & TDS thereon of FY 2013-14 ?
Please advise.
We have paid TDS on rent of Rs.212198 on 07/02/13 for the month of Jan.2013 i.e. for Asst.Year 2013-14.
In fact we have to pay TDS of Rs.45530 but we have paid Rs.212198 resulting in excess
TDS of Rs.166668. Now we wish to file TDS return of Rs.45530 in FY 2012-13 4th qtr against the challan mentioned above.
Now our question is whether we can adjust TDS Rs.166668 which was wrongly paid excess on 07/02/13 in TDS return of FY 2013-14 2nd qtr against rent payment & TDS thereon of FY 2013-14 ?
Please advise.
Hemant Kumar
(Expert)
22 July 2013
You can not adjust such amount in next f.y.
22 July 2013
Concept of adj excess tds paid in next FY is not there.
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