Hi,
In case of TDS u/s 195 by mistake i have deducted & paid tax @ 20.60% for Q1. Applicable TDS rate is 10% only. so now how this situation will be treated?
Shall i revise Q1 return? What should be done for the excess payment of TDS which is already paid? can i get the benefit of balance amount in Q2 if i revise the return?
you need to revise the return and you can avail set-off of the excess tds paid against such future payments even in subsequent quarter.
Thank you so much
R P S K & Associates
Nashik
CA Inter
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O P Bagla & Co LLP
New Delhi
CA Inter
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