How to rectify mistake in TDS deduction

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Ca Anurag (Querist)

16 June 2008 If any amount is deducted from a party wrongly and also deposited, then in such case how it can be adjusted or revised? can the money deposited wrongly be adjusted in any other party account?

Satish K Sekhar.ACCA

Satish K Sekhar.ACCA (Expert)

16 June 2008 Yes! you can adjust the TDS wrongly deducted and paid into the Govern. account, provided you are not filed the TDS return.

guru santhanam

guru santhanam (Expert)

16 June 2008 Hi Anurag/Satish,

I hope nowadays, it is not possible to adjust one party TDS to another.

Because, we would be giving the PAN of One party in TDS E-filing.

I hope this can be done before filing quarterly TDS E-returns.

Regards,
guru

Azmathullah Khan

Azmathullah Khan (Expert)

17 June 2008 Mr. Anuragh,

Whether u have paid extra TDS / less TDS,

If u paid extra TDS, let the party will claim the TDS after filing return,
If u paid less then paid now.

Mr. Satish K Sekhar is also write u can adjust the TDS internally, if u have other party come under same provision.

It is possible to adjust the TDS to another, while filing the revised return also, What is wrong in it.

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