TDS Payment

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 May 2011 Dear Sir,

While making the ETDS payment for AY 2012-13, by mistake, we put AY 2011-12. The amount is approx Rs. 15 lacs. What can be done in such case:

Can we file a letter with TDS Officer for rectification and how to get the AY changed in NSDL records? Please guide at the earliest.

Satyendra

Satyendra (Expert)

02 May 2011 Dear Friend,

There is no rule and procedure for set off TDS liability for two alternate year by the assesee, so in this case Claim refund in AY 2011-12 and pay Rs15 lacs along with Interest if any in AY 2012-13.

Welcome for further suggestion.

CA HIREN JOGI

CA HIREN JOGI (Expert)

02 May 2011 Dear Member,

You meet the TDS Officer of your range or ward and explain him the situation. Now a days, the A.O. has the power to rectify the details once. The details that can be rectified are: the Code under which the payment is made, the Assessment Year, Type of Payment. It has already happened with one of my clients and the TDS Officer has even corrected it by using his code. Ask him he will surely help you out.

Dont worry.

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