TDS Excess Paid

moreever u cn claim refund of that at the time of Filing your Income Tax Return.

regards,

ratan

yes,

to the best of my knowledge u can adjust the same

Originally posted by : Ratan Deep Saxena
	moreever u cn claim refund of that at the time of Filing your Income Tax Return. regards, ratan

 Dear Sir,

I heard that In cas of excess deposit of TDS, we can only adjust same in future liability in same financial year. If refund is also applicable then that is the procedure of claiming refund. Pls suggest me

yes you can adjust the tds so paid against ur future tax liability

Yes you can claim / adjust against the March Liability..

Thank you all

please note that, u do not file tds return, in same its fall under same section adjust with other liabiliy.

what is the procedure for claiming excess TDS paid? Should i not show the amount paid in the quarterly e-tds filing.?

Hi Karan,

 You said you have deducted excess TDS. have you deposited that TDS and filed quarterly return. in case if you paid TDS and filed quartearly return you can not adjust from futire liability. Why because in TDS challan you might be written AY2010-11 so it pertains only to the year of FY 2009-10. So only the option that you have with you is you can colledt from your client i.e from whom you have deducted TDS then he can file refund claim in his return.

               In cas you have not deposited TDS you dont worry at all you can reverse the entry  then ther will be no liability in books.

Thanks.

Maruthi  

Now, u have best way adjust tds in march.

Dear maruthi Gandhi,

I have Deposited the amount with govt but not filled the return as it is Q4