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Excess tds paid
Hello,
Please help me out urgently i have paid TDS on immovable property more by rs 10000/- by mistake in form 26CB.how i can get back the excess amount paid ?
Replies (9)
Form 26QB,
You can recover it from Deductee Party.
You can claim it in the income tax return
Hi.............
Excess TDS paid can be easily adjusted if you have other deductee under the same section.
Thanks!
And can i revise my consideration value of the concerned property??
DONT REVISE PROPERY VALUE....
COZ IT DEPENDS ON GOVERNMENT RATE PER FEET OR METER.....
RECOVER FROM PARTY IS BEST WAY TO JUSTIFY....
Hi........ Ankita
Can you please make it clear under which section you have deducted excess TDS?
If u anable to adjust agaiinst any other amount, u can claim it.
Recovery from the party can be made if not credited to government.Otherwise excess tds can be adjusted or refunded in Income tax return.
Refer circular 2/2011 from income tax site for process of refund of excess TDS
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