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

Nikhil Kaushik

Nikhil Kaushik (Expert)
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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

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