How to rectify mistake in TDS deduction

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Ca Anurag (Querist)
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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)
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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)
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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)
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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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