if a Co.paid excess TDS in Sec 194c in Q-4, then can it be adjusted in next year Q-1 for short payment of Sec 194c or any other section, say Sec 194 J ?
please advice with legal references of income tax.
thanks.
Yes the same challan unconsumed payment can be utilised in next returns. for this add the challan to the statement and use amount to the tune of the unconsumed amount.
As regards cross utilisation of payments across sections is also allowed. I'll give the legal references soon.
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