Tds deducted at higher rate

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 May 2013 If tds on machinery rent is deducted at 10% instead of 2% can it claim for refund?

Then what is the procedure for it..

I had mistakenly deduct at 10%..

VIVEK BARANWAL

VIVEK BARANWAL (Expert)
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03 May 2013 If by mistake you had deducted @10% but had not deposited than make adjustment entry in your books make balance payment to contractor

But If you had deposited the challan than file the return with 10% and give him tax credit via TDS certificate

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