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Regarding tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 February 2013 There was a case wherein an entity has deducted TDS in excess and paid so to the govt.for the first quarter while not filing the TDS returns for the first and the second quarter so finally can the entity adjust the excess credit in the third quarter and if so?? then what would be the procedure??

Waiting for your earliest reply.
Thanking You.
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Prashanth

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Prashanth (Expert)
21 February 2013 Hello,
Excess cna be adjusted within the quarter,i your case it is not possible as there are two different quarters.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
21 February 2013 the answer is yes. you can adjust excess TDS credit in the subsequent quarters - atleast within the same financial year - this i have done myself.

whether the same can be done inter-years I am not sure.
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