hello frenz !
I have a query related to TDS . Any help appreciated,
-> I made epayment using Online Netbanking for rs. 100000 instead of 80000 i.e. excess of 20000/-
-> I want to cancel this transaction or reverse this, as the amount is incorrect.
-> Please guide in detail and refer me the latest circulars for Online Challan Correction Mechanism
thanks in advance
rgds
Hi Mukeshh!
You can't cancel or reverse the transaction.
As per Circular 2/2011 dated 24/04/2011: any excess payment is discovered by the deductor during the financial year concerned, the present system permits credit of the excess payment in the quarterly statement of TDS of the next quarter during the financial year.
Any further query you can call on +919980731897
CAclubindia
