Tds deducted in case of no pan

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Querist : Anonymous

Querist : Anonymous (Querist)

13 September 2011 TDS in respect of interest has been deducted with out PAN @ 20% as per provision of Section 206AA for Quarter 1,2 and 3 of the relavant A.Y. However at the time of 4th Quarter, we adjust excess TDS deducted of previous quarters for the quarter 4. Please clarify.

CA Navin Jain

CA Navin Jain (Expert)
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13 September 2011 YOU SHALL NOT ADJUST EXCESS TDS DEPOSITED.

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Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
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13 September 2011 You can adjust the Excess TDS deposit. First of file the revised TDS return and mention the PAN and excess amount you can adjust in Q4. Treat it as Advance TDS deduction. If There is more excess amount after adjustment than show it in Q4 because you can not carried forward it to next year. Assess can file the return and claim the Excess TDS REFUND.

Abhishek Ranjan Singh
ARS Solution
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+91 9022838615

Querist : Anonymous

Querist : Anonymous (Querist)

07 November 2011 Abhishek thanks for your reply. However as i understand once return is being filed then we can change rate of TDS. Then in this case, rate is 20% in first 3 Quarters, Whether by inputing the PAN, rate will automatically get adjusted. Please guide.

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