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Query related to tds

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Priyanka Chakraborty

Govt Official in Telecom Sector

40 Points Posted on 05 October 2013

Hi,

During FY 2009-10, a party deducted an amount of Rs 1 lac as TDS but wrongly deposited Rs 1.10 lacs to the Income Tax Authority. The deductor had issued TDS Certificate for Rs1 lac only for FY 2009-10 at first instance. Now in FY 2012-13, by revising their original TDS Certificate to Rs 1.10 lacs, they are claiming that deductee organisation has taken the benefit of higher deposit (Rs 1.10 - Rs 1=.10lacs), thereby asking for refund of the differential amount. My question is

1) Is their stand tenable as per Income Tax Laws?

2) What is the remedy available to Deductee Org ?

3) Can the Deductee Org revise its return for the AY 2010-11?

4) If the Deductee Org has not taken the benefit of higher deposit then, what are recourse action left open.

I would be highly obliged if you offer your valuable suggestion

Replies (1)

surendra

39 Points Posted on 05 October 2013

Deductor has given TDS certificate to deductee of Rs. 1 lacs, which bears the signature of Deductor and this is a proof / evidence of Amount paid & deducted.

Deductee cannot revise the IT Return, as the provision says Revised Return can be filed only one year from the end of Assessment Year or Processing of IT return whichever is earlier.