27 August 2007
Sir, We have remitted TDS deductions to the Govt. under various challans for each different section of TDS. After the final verification, we have found that the total remittance u/s 194C for the year has been made more and U/s194I for rent there is a deficit. 1.Can these remittances during the same year be set off against each other excess versus deficit under different sections? 2.If yes, is there any explicit section/rule which allows inter-challan(sections) set off within the same year. 3.Can excess remittance made under Sec.194 I be adjusted against the sec.195(foreing payments)?
29 August 2007
There is no provision for adjustment of excess payment with short payment. So kindly pay the short payment as early as possible and avoid disallowance ( as the case may be).
CAclubindia
