26q retrn. deducted @20% later provided pan no. which option

Originally posted by : ram babu b.com
	The comapny deducted @ 20% on the deposits and deposited the same in the Bank.  before filing the return that depositor provided PAN No. Now while filing the return in remarks column - if I do not choose any option I am getting error message If i choose PAN Not available-deducted at Hihger rate it is accepting.   But is it correct......!!!

You have 2 Options available before you file your tds return:

1) If the deductor deals regularly with the deductee you can adjust tds on future payments showing advance payment of tds which is legally allowed under Income Tax Act.

2) You can right a letter to TDS department and request them to reverse the earlier deposit and accept the fresh deposit of tds deducted at lower rate.

Otherwise let the deductee claim his extraa tds amount in his return of income as refund.....