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Whther excess payment of tds be refunded/adjusted?

This query is : Resolved 
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(Querist)
07 January 2011 Dear Sir,

Please advise whether TDS payable u/s 194I if excess paid, can it be adjusted against 194C? if so then wat will be the procedure.
And if it cannot be, then under which section can it be refunded/ adjusted?
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
07 January 2011 In case the amount paid for 194I is adjusted against 194C, there shall be a mismatch in the Code.

However, the matching procedure has been simplified, The only matching done by the IT department is matching of CIN. As such, you can adjust the the excess payment in 194I with 194C, ofcourse, during the same quarter. There is no additional procedure.

Alternatively, you can apply for refund to the assessing officer.
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
07 January 2011 Agreed with Mr. Naik.
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