Tds adjustment
This query is : Resolved
26 May 2009
Dear Sirs,
I would like to know that if I deposit excess TDS then excess TDS amount could adjust in next month means excess amount will deductable in current month liability ?
I would like to know that if I deposit excess TDS then excess TDS amount could adjust in next month means excess amount will deductable in current month liability ?
CA.Tarun Maheshwari
(Expert)
26 May 2009
It is possible to adjust the excess paid TDS in the next month, but it can be adjusted only within the same section, i.e with the tds payable on similer nature of payment. But one more thing i would like to mention, that in the light of new TDS provisions, and with the introduction of new challan form 17, it seems very difficult to do so, as TDS shall be deposited now partywise - transaction wise. So try to avoid this situation, otherwise it may create a problem for you.
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