Tds deducted at higher rate by mistake
This query is : Resolved
04 August 2013
Suppose if a person has deducted TDS of person @ 10% instead of 2% by mistake and deposited it in Govt. Treasury. Now the assessee whose TDS is deducted at higher rate pleas to the deductor not to deduct TDS till the time his previous excess is adjusted. What should Deductor do in this case?? Should he deduct TDS on next payments also or should he adjust as plead by deductee?? Kindly support your answer with relevant section or case law??
07 August 2013
no adj should be made instead u need to rectify the mistake by following procedure.
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