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Dixita panchal (Student) (211 Points)

06 October 2015  
Our client has deducted tds @ 2% instead of 1%, What wil be the treatment in next month??? Can our client can adjust the same in next month ?

 5 Replies

Miss Rinkal (Student) (1304 Points)
Replied 06 October 2015

Is your client's payee - an individual or huf.?

You need to rectify the tds return

Karthik.V.Kulkarni (Chartered Accountant) (594 Points)
Replied 06 October 2015


If the client has remitted to the govt 2% tds deducted you cannot adjust the same, same will be reflecting in your 26 AS and you can take tax credit of the same while filing the final ROI.

If not then you can adjust and sort out between you and your client .


Karthik V Kulkarni

Shashank Upadhyay (Students) (288 Points)
Replied 07 October 2015

No need to adjust. Rates specified in Income Tax Act are minimum rates. If Tds is deducted at a rate higher then specified date then it would not create any problem. Amount so deducted can be claimed while filing ITR.

Miss Rinkal (Student) (1304 Points)
Replied 07 October 2015

It is a mistake caused by that company and hence in that event company need to rectify the TDs return for which you need to intimate to the concerned company for revising the same.

Dixita panchal (Student) (211 Points)
Replied 10 October 2015

Thank you For such reply

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