TDS Excess Payment - 192B

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If you've paid excess TDS under section 192B for the Jan-Mar 2021 quarter, you can indeed adjust this balance amount in the current quarter (Apr-Jun 2021) or carry it forward to the next financial year. The CPC (TDS) system allows for a single Challan to cover different assessment years, making adjustments possible. Alternatively, you can claim a refund if you prefer not to carry it forward.

Sarathy

Sarathy (Querist)

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

Deepa B

Deepa B (Expert)

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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