Tds deducted against tax exempted party
This query is : Resolved
26 July 2012
Dear Sir,
Please let me know the treatment of wrong entry which is that SAIL has tax exemption certificate but by misktake we small company Rasha Ind.Pvt.Ltd. has deducted TDS on the payment of bill to SAIL and TDS Return has been deposited but now the SAIL is refusing to take the credit of TDS which has been deposited by us.
Awaiting your quick reply in this regard.
Please let me know the treatment of wrong entry which is that SAIL has tax exemption certificate but by misktake we small company Rasha Ind.Pvt.Ltd. has deducted TDS on the payment of bill to SAIL and TDS Return has been deposited but now the SAIL is refusing to take the credit of TDS which has been deposited by us.
Awaiting your quick reply in this regard.
CA CS Amit S. Kedia
(Expert)
26 July 2012
The tax has already been deposited with government. There is no other option except to claim the refund of such TDS by the deductee.
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