excess tds recovery
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 June 2010
For 32 lakhs instead of 64 thousand 78 thousand was recovered as TDS. Is it a problem for excess recovery in the eyes of IT dept. The company did not bother for excess recovery. In fact they are thenakful because they could avoid advance tax. Kindly guide
08 June 2010
Issue the TDS certificate for the 78 thousand. Not a problem at all as the deductee is not objecting to it.
08 June 2010
Dear ???
many assessee uses this excess TDS as a measure of avoiding interest on delay/default in payment of adv tax. Since the deductor & deductee are fine with the same go ahead, just issue the certificate & let deductee claim the same in his tax return
many assessee uses this excess TDS as a measure of avoiding interest on delay/default in payment of adv tax. Since the deductor & deductee are fine with the same go ahead, just issue the certificate & let deductee claim the same in his tax return
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