Can TDS compounding fee be adjusted against "UNCLAIMED" AMOUNTS AVAILABLE ON OLTAS

 

Hello Members, 

I have a query on payment of TDS compounding Fees. The total compounding amount payable is  11 Lacs for 3 different assessment years. 

We have also paid excess TDS amounts in the past which is amounting to around 3 Lacs across 4 different assessment years. This amount of 3 lacs is lying in unclaimed / partially claimed challan status in Traces.

May I request someone to please advise if we can adjust/ utilise this unclaimed TDS towards payment of compounding fees and pay only 8 Lacs ?  

Thank you. 

Regards, 

Jayshree

 

 

    

 

 

Replies (4)
Quick Summary
A member inquired whether unclaimed TDS amounts, lying in Traces across various assessment years, could be used to offset their TDS compounding fees. Initially, it was suggested that this might not be possible as compounding is handled by the tribunal. However, a later update indicated that the adjustment against unclaimed challans on OLTS was indeed successful.

I think this is not possible because compounding is dealt with the tribunal and cannot be set off with tds refund as there is no mention of it in the sections

https://incometaxindia.gov.in/Tutorials/45.Compounding-of-Offences.pdf

Thank you for your reply Sir. Any more thoughts ? 

Thanks and regards, 

jayshree

 

Thanks again Sir. 

I wish to share that we could adjust the same against unclaimed challans on oltas. 

 

 

 

Raise a challan and see what happens

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