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TDS Deduction

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Querist : Anonymous

Querist : Anonymous (Querist)

27 March 2010 In case an agreement has been made between company ABC Ltd. (for its same management com.) and XYZ Ltd. for some work. The part payment has been made by ABC ltd. to XYZ ltd. after deducting TDS (for which qtr return has been filed) and then subsquently the work order has been cancelled. Now ABC ltd is saying to XYZ ltd. to return the amount with TDS and we will issue the fresh check from my other company after deducting TDS on full amount again. I want to know what are the option available to us? The point is that XYZ ltd has deducted TDS for which transction? The case might come as concealment of income.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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27 March 2010 You can refund and file correction return by removing the particular deductee and excess payment can be adjusted with other deductee for the subsquent quarter.incase you are not having deductees you can apply for refund after adjusting your all othet Income tax dues

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