Tds excess paid to government

This query is : Resolved

VISWANATHAN (Querist)
Follow

17 June 2013 Sir,

We had deducted Rs.5000/- tax from a party , however while paying to the government we had due to oversight paid Rs.6000/- . Since there is no other transaction for this party or any other party, please tell us how to file the TDS return.

Regards

Vishu

Sanket

Sanket (Expert)
Follow

17 June 2013 In case the excess payment is discovered by the deductor after the financial year concerned, the refund claim can be made to the TDS Officer concerned. No claim of refund can be made after two years from the end of the financial year in which tax was deductible at source.

The deductor should establish before the TDS Officer that:
· it is a case of genuine error and that the error had occurred inadvertently;
· the TDS certificate for the refund amount requested has not been issued to the deductee; and
· the credit for the excess amount has not been claimed by the deductee in the return of income or the deductee undertakes not to claim such credit.

Read with circular No. 2/2011 [F. No. 385/25/2010-IT(B)] dated 27 April 2011

VISWANATHAN

VISWANATHAN (Querist)
Follow

17 June 2013 Dear Sir,
Thanks for your prompt reply. The refund can be claimed once the returns are filed. Could you please guide me as to how to file the return as the challan amount is Rs.6000/- whereas the tax deducted is Rs.5000/- How to show the challan amount of Rs.6000/- as showing the challan amount as Rs.5000/- would cause a mismatch and showing excess, would mean excess credit to the party and moreover whether the tds return statement will allow or not .
Please tell us how to go about it.

Regards
Viswanathan R

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

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

ASHOK B GONDKAR

rana andcompany

Raj Jaggi

SHRI HARIRAO

Raviraj ponkshe

Subscribe Now

Tds excess paid to government

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

CA Final

Accountant

Manager- Finance and Compliance

Senior Executive

GST CONSULTANT