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Reimbursement of exp.-tds issue

01 November 2014

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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4 Replies

CA SUKSHAM ARORA (CA) (569 Points)
Replied 01 November 2014

I GUESS DEDUCTEE CAN STILL CLAIM IT

CA Bipin Kumar (Service) (250 Points)
Replied 01 November 2014

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.

Mihir (Wealth Manager) (5293 Points)
Replied 01 November 2014

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

CA Parul Saxena (CA) (8425 Points)
Replied 03 November 2014

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?????