can any one tell me consquences of deducting tds at higher rate then actual?
for eg if i deduct tds at 10% instead of @ 2%?
then what.....?
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excess amt. deducted
Replies (9)
EVEN I GOT THE SAME DOUBT.
hi
i also want to know the treatment of excess amount of tax deducted.
WHATEVER TAX HAS BEEN DEDUCTED YOU HAVE TO DEPOSIT IT TO THE TREASURY. THE DEDUCTEE WILL CLIAM IT IN HIS/HER RETURN. THE ONLY CASE THE DEDUCTEE COULD CLAIM IT BACK FROM THE DEDUCTOR IS WHEN THE DEDUCTOR HAS NOT ISSUED TDS CERTIFICATE FOR THE EXCESS AMOUNT. REGARDS, RITESH KOTHARI
okay thanks
show amount deducted as tds in ur return, if it is excess deducted then u'll automatically get a refund. No worries
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