Dear collegues,
We have made certian excess TDS payment for Q4 of FY 13-14. I spoke to TRACES people with regard to procedure for getting the refund. They have told that excess TDS payment if any can be adjusted against the liability of subsequent periods. for example excess TDS payment of FY 13-14 can be adjusted either for FY 12-13 or FY 14-15. However they have not told the procedure on how to adjust in the returns and asked me to contact software provider for adjusting the excess tds payment in subsequent period returns.
is this right, if yes, can you please help me with details of relavent section/circuar issued by board saying that that excess TDS can be adjusted against subsequent period
thank you.