banner_ad

excess tds

TDS 976 views 4 replies

my client has taken a unsecure loan from a company @ 9%.he had paid interest @ 9% every year.

but in 07-08 he wrongly calculate Interest @ 15% and deduct TDS accordingly and TDS Return submitted.

now he came to know that excess interest  is being charged.he has rectified entry for interest in books of accounts.now he want to file revised return and claim refund for excess TDS deposited.

can he do so?

is there is any other way to overcome above problem

Replies (4)

I am interested in reply

Yes, he can claim the refund of excess TDS deposited by making an application to the ITO, TDS & giving the full details of the matter. There is a CBDT Circular on this issue. If you need I can check up & let you know about it tomorrow.

yes,Vinod

pls send me a copy of that circular

Your client has not lost his money out of his pocket.

Issue the TDS certificates for such higher value to the company.

Let the company claim the refund.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details