TDS Excess Payment - 192B
This query is : Resolved
05 July 2021
Dear Sir/Madam,
In Last Quarter Jan'21 to Mar'21 I paid excess amount of TDS for the section 192B. If there is any possible to adjust balance Challan amount of TDS in current quarter (Apr'21 to Jun'21). If there is no possible what will i do or If that balance amount filed in last quarter to the same person and advise him apply to Refund.
Kindly give me suggestion.
Thank you
In Last Quarter Jan'21 to Mar'21 I paid excess amount of TDS for the section 192B. If there is any possible to adjust balance Challan amount of TDS in current quarter (Apr'21 to Jun'21). If there is no possible what will i do or If that balance amount filed in last quarter to the same person and advise him apply to Refund.
Kindly give me suggestion.
Thank you
05 July 2021
Yes. It is possible to utilize the excess paid TDS amount of Q4 of FY 20-21 in Q1 of FY 21-22. Because CPC (TDS) has devised a processing logic in the system to permit a Single Challan for different assessment year. It is also possible to claim refund of the same, if you don't want to carry it forward for next financial year and adjust.
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06 July 2021
You can utilize the amount next financial year 2021-22
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