Tds return

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aman (Querist)
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14 October 2014 Dear Experts My company has deducted tds on the salary of employee which was not supposed to be deducte in Q4 of F/Y 2013-14. Now can the company adjust the excess tds deposited with the department in the subsequent return or can the amount be claimed as refund.? if yes, how? Thanks in advance

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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15 October 2014 Faster way to claim the amount to show the deduction amount through TDS return for the particular employee and credit his/her PAN and claim in the income tax return

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CA Mukkul Mehta

CA Mukkul Mehta (Expert)
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16 October 2014 I agree with CMA Ramesh Krishnan, as this is the faster way to do it.

Still, I would like to update you on the correct procedure and try to answer your query specifically:-

1. You can not adjust a challan paid for any particular financial year in the TDS return for next financial year. The challan can be claimed only in the return of same financial year.

2.Refund of excess TDS can be claimed from the department. However there is a condition that before claiming the refund, you should ensure that there is no TDS default outstanding against your TAN. This can be checked by logging into traces and seeing the dashboard. As of now, traces has temporarily suspended the facility for claiming online refunds of TDS through its portal.

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