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EXCESS PAID TDS ADJUSTMENT

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student
97 Points Posted on 07 June 2020
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.
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On 07 June 2020 at 23:41 Report
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Practising Chartered Accountant
1527 Points Posted on 08 June 2020
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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On 08 June 2020 at 01:40
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student
97 Points Posted on 08 June 2020
Thanks for prompt reply...I found in TIN website there is FVU 4.0 where it is clarify the same. but,i couldn't get the section references or any circular/Notification.
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On 08 June 2020 at 08:53
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Student
1321 Points Posted on 08 June 2020
Https://contents.tdscpc.gov.in/en/tdscpc-communication69.H T M L
6 Reply
On 08 June 2020 at 09:18


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