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Reimbursement of exp.-tds issue


CA Parul Saxena (CA)     01 November 2014

CA Parul Saxena
CA 
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TDS has been deducted by the company on certain expenditure but such expendiure was reimbursed by a person. Now what will be the consequences if TDS was not required to be deducted but by mistake deducted by the company????
 

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CA SUKSHAM ARORA (CA)     01 November 2014

CA SUKSHAM ARORA
CA 
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I GUESS DEDUCTEE CAN STILL CLAIM IT

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CA Bipin Kumar (Service)     01 November 2014

CA Bipin Kumar
Service 
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If it pertains to period for which return has not been submitted. Return tds amount and adjust it. If return is submitted then he may claim refund. however in certain cases in case of reimbursement also tds attracts.

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Mihir (Wealth Manager)     01 November 2014

Mihir
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Has the company only deducted TDS or deposited the TDS also? TDS return has also be filed or pending?

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CA Parul Saxena (CA)     03 November 2014

CA Parul Saxena
CA 
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TDS has been deducted paid and also return has also been filed...I am asking from point of view of company whether any penalty would be levied that why tds was deducted?any problem would arise at the time of tax audit reprt next year?????


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