Tds excess paid

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 April 2014 If tds excess paid, the excess amount can be adjusted in other sections. ?
fr example. : tds payable 20000 under 194 I , but paid 25000 by mistake..Can I adjust that excess 5000 to 194C? Please reply

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

29 April 2014 the ans is no.
then u need to correct the challan itself...

Querist : Anonymous

Querist : Anonymous (Querist)

29 April 2014 Thnx.. but How can I correct the challan?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

29 April 2014 in share files just find challan correct mechanism in income tax section.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

30 April 2014 actually there is no need to make any correction to the challan. The amount payable under 194I is 20000 and you have paid Rs 25000. So as such there is no mistake except for payment of excess tax.

What you need to do is : pay Rs 5000 under 194C.

Then adjust Rs 5000 against future TDS liability under 194I or claim refund by filing form 26B

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA Archana R

Deepak Nayak

Krishnamohan Gangaraju

Shameem ahmed

Konijarala prasad

Subscribe Now

Tds excess paid

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA