TDS.
This query is : Resolved
13 May 2011
Dear Friends,
1) Whether is it possible to pay TDS in advance without any standing liability of TDS Payment and set-off the same on liability of TDS payment incur later on.
2) can we set off the excess payment of TDS before for later liability TDS.
a) Under same section
b) Under different section
1) Whether is it possible to pay TDS in advance without any standing liability of TDS Payment and set-off the same on liability of TDS payment incur later on.
2) can we set off the excess payment of TDS before for later liability TDS.
a) Under same section
b) Under different section
HUZAIFA HUSSAIN
(Expert)
13 May 2011
Dear Manoj
TDS NEEDS TO BE DEDUCTED EITHER AT THE TIME OF CREDIT OR PAYMENT WHICHEVER IS EARLIER. SINCE IN UR CASE THERE IS NO CREDIT OR PAYMENTS WHERE IS THE QUESTION OF DEDUCTION, FORGET ABOUT PAYMENTS. BECOZ TDS NEEDS TO BE DEDUCTED FIRST AND THAN MAKE THE PAYMENT WITHIN THE PRESCRIBED TIME LIMITS.
TDS NEEDS TO BE DEDUCTED EITHER AT THE TIME OF CREDIT OR PAYMENT WHICHEVER IS EARLIER. SINCE IN UR CASE THERE IS NO CREDIT OR PAYMENTS WHERE IS THE QUESTION OF DEDUCTION, FORGET ABOUT PAYMENTS. BECOZ TDS NEEDS TO BE DEDUCTED FIRST AND THAN MAKE THE PAYMENT WITHIN THE PRESCRIBED TIME LIMITS.
13 May 2011
1. You can't set off the excess payment of TDS before for later liability TDS.
14 May 2011
Dear Huzaifa,
As TDS liability is subject to deduction, But if sameone want to pay TDS as advance in any out of releted section and later on set-off liability of his payment in same section in which he has paid TDS in advance.
for e.g Under plannig In march Mr "X" want to pay TDS under section 194J of Rs 1,00,000 in month of April as advance against the estimated liability for first quarter 10,00,000 of Professional fees.
at the end of Quarter actual liability of TDS under 194J was only 90000 so now the 10,000 is excess payment of TDS.
Is it possible to follow the procedure mentioned in e.g.
And 1 more thing if in instant case suppose Mr 'X' find Expenses of which TDS is not deducted under section 194J for first quarter in the month of aug. of RS 6000 (TDS).
can Mr 'X' set off 6000 TDS liability without Interest against the Excess payment in the month of april as amount is already paid in month of april and the liability of 6000 is below 10000 (Advance payment of TDS Remaining after set off 90000 out of 100000 under 194J)
As TDS liability is subject to deduction, But if sameone want to pay TDS as advance in any out of releted section and later on set-off liability of his payment in same section in which he has paid TDS in advance.
for e.g Under plannig In march Mr "X" want to pay TDS under section 194J of Rs 1,00,000 in month of April as advance against the estimated liability for first quarter 10,00,000 of Professional fees.
at the end of Quarter actual liability of TDS under 194J was only 90000 so now the 10,000 is excess payment of TDS.
Is it possible to follow the procedure mentioned in e.g.
And 1 more thing if in instant case suppose Mr 'X' find Expenses of which TDS is not deducted under section 194J for first quarter in the month of aug. of RS 6000 (TDS).
can Mr 'X' set off 6000 TDS liability without Interest against the Excess payment in the month of april as amount is already paid in month of april and the liability of 6000 is below 10000 (Advance payment of TDS Remaining after set off 90000 out of 100000 under 194J)
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
