I would like to seek an URGENT CLARIFICATION regarding the Circular No. E/257 dated 12/09/2014 "CPC (TDS) Advisory to deductors making TDS payment through multiple challans in a month". As per this circular it was advised that excess payment deposited to Government can now by utilized for the purpose of reporting tax deducted at source for the immediately preceding year or immediately subsequent year.
Regarding the same i would like the following clarification:
1. Can the excess TDS deposited under AY 2017-18 (unconsumed amount) be used for closure of TDS deposit shortfalls for BOTH AY 2016-17 & TDS for AY 2018-19?
We have deposited TDS (including interest) for all the 3 AY (16-17, 17-18 and 18-19) under the AY 17-18 and would like to obtain a clarification if the same challan can be utilized for ALL the 3 year.
2. As per the new online process, the challan needs to be added to each of the AY. I would like to obtain clarification if the system allows the same challan to be added to all the AY to file necessary returns? Am i likely to face any issues?
3. If the same challan can not be added to multiple AY, is the refund of TDS challan possible if the same has been partially utilized/consumed? If yes, what is the process to be followed.
Need urgent help regarding this to be ensure compliance. An immediate response would be highly appreciated since the last date for filing Q3 return for AY 2018-19 is approaching fast in 2-3 days.