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TDS EXCESS PAID OR ADVANCE PAID UTILIZATION

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This query is : Resolved

sachin Alwadhi (Querist)

01 May 2023 Hi

Kindly suggest if we have paid excess tds tax in 194 c then can we utilize excess tds in 194 j or other head ?

second if during previous fy year or same financial year we have paid some excess tds can we utilize excess tds in next financial year and in next quarter of same financial year?

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

01 May 2023 As per CPC Communication dated 10.09.2014 a single challan can be used for payment of tax deducted at source for multiple financial years.
Excess challan paid in any quarter can not only be used for payment in subsequent quarters of the same financial year but also for subsequent financial years also, if there is unconsumed amount in the challan.

For more details refer : https://taxguru.in/income-tax/single-tds-challan-purposesanalysis.html

or https://taxguru.in/income-tax/one-tds-challan-for-payment-under-diffrent-sections-years.html

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