Refund of tds wrongly deducted & paid to govt.a/c.

TDS 721 views 1 replies

Chirag Shah

Accountant

38 Points Joined April 2013

Dear friends,

We have made wrong deduction of TDS of one party & also deposited the same for the year month of Dec'14.TDS was wrongly deducted. Qtly. return not yet filed.

Now, that party is not accepting TDS deduction & wants payment.
We want refund of TDS wrongly deposited?

Pl. help urgently as Qtly. return need to file.

Replies (1)

Pranjal Mittal

Student

90 Points Joined November 2012

If you have deducted higher amount of TDS you should refund that amount to deductee party.Moreover the extra amount deposited can be carried forward and set off against payments to be done in next quarter