Tds on Rent - paid by a Company to a company
Has remitted an amount in excess of the requirement.
The quarterly returns have been filed in time also mentioning this item in others coloumn.
Can this TDS be remitted short in the next quarter as it is being deducted from the same head of payment and same party ?
Hi Mani,
As per my knowledge - 'Excess TDS deposited in previous Quarter will become an Advance Tax in that FY, so you can treat it accordingly.' It is assumed that same FY is going on. It is advisable to maintain written correspondence with concerned ITO.
In respect of excess TDS deposited in last year and you want to adjust it in current FY, then there is NO such provision.
CAclubindia
