TDS paid

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Archana Bhaskar Madkaikar (Querist)
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23 January 2021 We have paid challan of TDS for particular month and while filling details for quarterly returns of TDS, we have found out that we have paid excess amount in challan. My query is how to adjust the amount. I want to know the procedure we have to follow as per law. Kindly solve this query.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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23 January 2021 Include the challan in next quarter return and adjust the excess payment.

Archana Bhaskar Madkaikar

Archana Bhaskar Madkaikar (Querist)
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23 January 2021 But Sir there will be mismatch in this quarter. How to deal with this?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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23 January 2021 • In case tax has been deposited more than the required tax deducted at source for a particular Assessment Year, the excess amount of tax can be claimed in the following quarters of the relevant year. The balance amount if any, can be carried forward to the next year for claim in the TDS statement.

• Example: If excess payment of Tax has been made in Quarter 1 of financial year 2017-18, the same can be used for Quarter 2,3&4 of F.Y. 2017-18 as well as for Q1 to Q4 of F.Y.2018-19. The excess amount of tax paid in Q1 of F.Y.2017-18 can also be used for payment of tax default of Q1 to Q4 of F.Y.2016-17.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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23 January 2021 Just add details of such challn in next quarter and used the balance amount out of challan. Also submit the TDS return manually as online return will not processed as there is difference in challan amount.

Archana Bhaskar Madkaikar

Archana Bhaskar Madkaikar (Querist)
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25 January 2021 Thanks for solving the query

Message likes : 1 times

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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26 January 2021 Welcome.... My pleasure......

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