Tds
This query is : Resolved
santosh kumar nayak
(Querist)
18 April 2013
WE HAVE RECOVERED TDS U/S 194C FROM VARIOUS
PARTIES AMOUNTING TO RS 29,00,000 DURING THE MONTH JAN 2013 & PAID TO INCOME TAX DEPTT RS 29,00,000 TWO TIMES ERRONEOUSLY BEFORE 7TH OF FEB 2013.EXCESS PAYMENT OF RS 29 LAKH DURING JAN 13 CAME TO OUR NOTICE WHILE RECONCILIATION DURING MONTH OF MARCH 2013.AGAIN DURING THE MONTH OF MARCH,WE HAVE RECOVERED RS 35 LAKH FROM VARIOUS BILL U/S 194C AND REMITTED TO DEPARTMENT NET OFF RS 6 LAKH AFTER ADJ OF EXCESS RS29 PAID DURING JAN 13.EVEN THOUGH ABOVE MONTHS ARE FALLING IN 4TH QTR OF 2012-13,WHETHER SUCH TYPE ADJUSTMENT IS ALLOWABLE WHILE FURNISHING 4TH QTR RETURN OF FY 2012-13.PLEASE ADVICE REGARDING ABOVE ISSUES OTHERWISE DEPARTMENT MAY ISSUE DEMAND
PARTIES AMOUNTING TO RS 29,00,000 DURING THE MONTH JAN 2013 & PAID TO INCOME TAX DEPTT RS 29,00,000 TWO TIMES ERRONEOUSLY BEFORE 7TH OF FEB 2013.EXCESS PAYMENT OF RS 29 LAKH DURING JAN 13 CAME TO OUR NOTICE WHILE RECONCILIATION DURING MONTH OF MARCH 2013.AGAIN DURING THE MONTH OF MARCH,WE HAVE RECOVERED RS 35 LAKH FROM VARIOUS BILL U/S 194C AND REMITTED TO DEPARTMENT NET OFF RS 6 LAKH AFTER ADJ OF EXCESS RS29 PAID DURING JAN 13.EVEN THOUGH ABOVE MONTHS ARE FALLING IN 4TH QTR OF 2012-13,WHETHER SUCH TYPE ADJUSTMENT IS ALLOWABLE WHILE FURNISHING 4TH QTR RETURN OF FY 2012-13.PLEASE ADVICE REGARDING ABOVE ISSUES OTHERWISE DEPARTMENT MAY ISSUE DEMAND
CA.Sourabh Sethia
(Expert)
19 April 2013
yes such type of Adjustment is possible as
because you have already paid tds to Income
Tax department
but you should see that the party to whom you are paying & deducting TDS are linked with the challan properly i.e Rs.29+6 are split properly
if in case anything arises on account of this you can inform TDS department about the facts in writing
because you have already paid tds to Income
Tax department
but you should see that the party to whom you are paying & deducting TDS are linked with the challan properly i.e Rs.29+6 are split properly
if in case anything arises on account of this you can inform TDS department about the facts in writing
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