Circular on excess TDS

I am not aware of exact circular number, but yes, you can adjust the same if it is within the same section. But after adjustment, you will need to revise your return for the quarter in which such excess tds was deposited. 

Dear Hinna,

First of all TDS is deposited on monthly basis & not on quarterly basis..It is the return which is to be filed on quarterly basis..

Further, I don't think there is any such Circular...Adjustment of Excess/Short deduction is allowed in case of TDS on Salary only..

 Hi Tarun

Need of revising the return will arise only if the company has already filed Return. But if the Company's return is pending for filing for two quarters (one in which excess deposited and one is which excess adjusted) then there is no nedd to file revised return. 

M i right?

Yeah Agree. And one more thing. What I have suggested you is totally based on practical experience. What we do in case of excess deposit is that we pass necessary adjustment entries in books of accounts and accordingly claim it in next quarter. 

Dear Mr. CA Tarun Maheswari and Mr. Hinna Garg

I ve entered here just to ask the same question.

Thanks to you both. You have solved my problem.

Wish I could get that circular.

CA. T Narasimha Murty

Dear Friends,

First of all, I couldn't find any such circular...

Secondly, Mr. Tarun, I agree that in practical life u must be doing things of that sort but my question is whether it is teneble as per Law...

Remember one more thing, CIRCULARS ARE NOT BINDING ON CIT(A), ITAT, HC & SC, if this case goes into litigation then I am sure that the circular which u guys are talking about will be quashed sine Law has not provided any flexibility of such kind..

For all of you, I have an article link. It will help to sort out your issues.

https://www.simpletaxindia.org/2009/03/excess-tds-deposit-refund-vs-adjustment.html

Visit this link. It contains good and practical suggestions.