Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 May 2012 If we have to pay interest of particular Qtr & we have excess paid of particular section . eg. 94C, can we adjust that excess amount against libility of interest on TDS & other sections .

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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27 May 2012 It is better to adjust the credit of 94C in the subsequent quarter against the similar category of TDS amount. The mismatched results may cause more problems and complication. For the sake of clarity I would advise to prepare a separate challan for Interest.
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