In respect of tds
This query is : Resolved
16 January 2012
My client is engaged in the business manu. of various items. He paid Rs. 1037000/- to jobwork contractors and deduct Rs. 10370/- as TDS. Unfortunately by mistake he deposited Rs. 21496/- through netbanking towards TDS u/s. 194C instead of Rs. 10370/-. Now what to do in respect of excess payment of Rs. 11126/- at the time of preparing TDS return. Please give example to adjust excess amount paid.
My client is engaged in the business manu. of various items. He paid Rs. 1037000/- to jobwork contractors and deduct Rs. 10370/- as TDS. Unfortunately by mistake he deposited Rs. 21496/- through netbanking towards TDS u/s. 194C instead of Rs. 10370/-. Now what to do in respect of excess payment of Rs. 11126/- at the time of preparing TDS return. Please give example to adjust excess amount paid.
CA PARAS BAFNA
(Expert)
16 January 2012
Deduction at higher rate may be shown in Deductee's A/c.
You may issue a certificate to the deductee showing the higher amount of TDS.
.
If he agrees to get it adjusted in his payment ... well and good.
.
Try this and allow him some time. After all he is getting significant benefits from your company.
.
You may issue a certificate to the deductee showing the higher amount of TDS.
.
If he agrees to get it adjusted in his payment ... well and good.
.
Try this and allow him some time. After all he is getting significant benefits from your company.
.
CA Deepak S
(Expert)
17 January 2012
You will get refund of the excess TDS paid. Follow the procedures laid down by the following two circulars,
No. 285, dated 21-10-1980.
CIRCULAR NO. 2/2011 [F.NO. 385/25/2010-IT(B)], DATED 27-4-2011
No. 285, dated 21-10-1980.
CIRCULAR NO. 2/2011 [F.NO. 385/25/2010-IT(B)], DATED 27-4-2011
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Visiting card purchase
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Query on effect of registration of property
- Equity Share Sale and Purchase
- Whether output tax is taken credit by purchaser
- Additional trade name
- Number of years as per AS amortisation of Goodwill
- Wrong CMPo8 file
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
