Query Regarding TDS Adjustment After Issuance of Credit Note

This query is : Resolved 
Quick Summary
If you've paid TDS on a service and subsequently received a credit note that significantly reduces the service value, you need to address the excess TDS paid. Since the credit note was issued in April after the TDS payment in March, you'll need to claim a refund or adjust the excess TDS amount. The process typically involves filing the relevant tax forms to claim the overpaid amount back from the tax authorities.

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(Querist)
30 May 2024 Suppose I have received a service worth ₹250,000 from a firm which is subject to TDS. Later, they issued a credit note for ₹150,000, but I have already paid the TDS amount. What should I do next?
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Jaspal Singh

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Jaspal Singh (Expert)
30 May 2024 what is the tds rate you have applied
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Mahesh S M

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Mahesh S M (Querist)
30 May 2024 the TDS rate is @10%
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Jaspal Singh

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Jaspal Singh (Expert)
30 May 2024 what are the months of tds payment and issuance of cn
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Mahesh S M

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Mahesh S M (Querist)
01 June 2024 TDS Payment done in March and CN issuance is April
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