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Payment of tds
company has a written contract with professional for a particular amount,but further officer incharge of the company verbally agreed to pay excess amount than agreed earlier.company deducted tds on the basis of increased remunaration.tds return is also filed.tds certificate is already issued. further company refused to pay excess sum agreed and paid only a sum as per contract. is the company liable to pay excess amount as verbally agreeed?
Replies (5)
not legally, as the contract would show only the amt. agreed.... but since co. has deducted tds on increased amt and in its tds return would have shown that such increased amt. is paid to him. also tds certificate has been issued for such amt, then the professional can claim for payment of excess amt.
or if the professional agrees to receive only the amt. written in contract then excess tds deducted should be refunded to him and tds return accordingly revised.
in my previous doubt,further condition is adding more complications--tds refund is also claimed & received by the professional, & now company declined to pay excess amount, is the liable to pay excess agreed remunaration?
@ parag... now the co. will have to pay amt. as no option left for the co.
Hi,
Company is not liable to pay anything , as it is only a verbal contract. If your total income is taxable, you will get credit of the amount deducted by the company.
For any further query PM or mail me.
AJH & CO.
anubhavjain @ ajhco.in
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