Tax Deduction at Source (TDS)
This query is : Resolved
25 October 2007
Inadvertently, excess TDS is affected from a Contractor and also remitted to the Department in a particular quarter.
This mistake is detected in the next quarter (in the same financial year). How to go about adjusting the excess payment.
Is it not possible to deduct the excess amount while remitting TDS due for next quarter (in the same financial year).
Kindly advise
This mistake is detected in the next quarter (in the same financial year). How to go about adjusting the excess payment.
Is it not possible to deduct the excess amount while remitting TDS due for next quarter (in the same financial year).
Kindly advise
25 October 2007
You may adjust the same but should revise the qly return
26 October 2007
Adjustment is possible but keep a Track of the same for the final return or there will be confusion and the department would ask the interest and penalty for short payment (that is adjusted towards Excess Payment )
08 November 2007
The same situation i also came across. What Mr. Gul said is correct.
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