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Tcs paid in excess can be adjusted?

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Querist : Anonymous

Querist : Anonymous (Querist)

25 April 2013 Dear All,

Suppose a company has paid excess TDS/TCS in 4 quarter of financial year 2011-12. Can such a company adjust the excess amount paid against TDS/TCS in Q1 of financial year 2013-2014 using the Q4(2011-12) challan number. Will there be any problem while submitting the TDS/TCS returnin Q1(2013-14).

What I feel is that the excess amount to be adjusted in the same financial year to which it pertains.

The best alternative would be to file a refund application to DCIT(TDS/TCS) which the company adopted.It is now more than 1 year but there is no response from income tax department.

Is there any alternative to adjust the excess amount or please provide a proper measure to get the refund of excess amount.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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10 June 2013 The adjustment for short and excess can be done only in the same accounting year. If any excess has been deducted the same is to be claimed by the person concerned in his or her return of income.

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