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TDS Querry

Krunal (Partner) (43 Points)

18 June 2011

My client paid interest of RS. 16000/- and deducted 1600/- as TDS but paid 14400/- as TDS to central Government and filed e-tds quaterly return..

now he realised about the error but the problem is e-tds return is accepted bt TIN department and the deductee has already got the credit.. but dedctee doesnot want to claim excess credit..

so can we revise return and show lesser credit to the deductee and what can be done of excess amount paid..

Please advise urgently and Thanks in advance

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15 Replies

CA bhargava (CA) (2017 Points)
Replied 18 June 2011

Mr. Krunal what is the error in the transaction...

CA Suraj Prasad Shaw (Chartered Accountant) (504 Points)
Replied 18 June 2011

Dear Krunal,

You can revise your return.

(Guest)

Kunal pls explain the exact prob........?

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 18 June 2011

YOU CAN REVISE THE RETURN

BUT FIRSTLY EXPLAIN THE PROBLEM

M. N. JHA (CA) (8316 Points)
Replied 18 June 2011

Problem is client paid tds of rs. 14400 instead of rs. 1600. . . . .

Gokul Viswanath Shenoy (Company Secretary & Finance Manager) (430 Points)
Replied 18 June 2011

ya..ofcourse..the return can b revised filling the correct details..

CA. Anubhav Jaggi (CA) (104 Points)
Replied 19 June 2011

Revising the return is this case will not be an easy job. As you have paid excess amount through challan which is accepted by TIN, and you have to show some deductee against that challan, even if you revise the return.

I would suggest let the deductee take the credit of 14400, and recover balance amount from him in cash. Duducting excess amount than specified is not a default.

Any other alternate solution is welcomed.

Mukesh Kumar Singh (CA-FINAL) (4094 Points)
Replied 19 June 2011

ya..ofcourse..the return can b revised filling the correct details..

smita Rathore (CA) (27 Points)
Replied 19 June 2011

Basically the problem is challan n not the return. Any problem relating to challan is specifically handled by AO. In this case, an application needs to be submitted with the concerned AO explaining him the problem specifically. I would suggest a personal meeting with AO.

Also, u can call at TIN facilitaion centre for exact procedure. Helpline is quite good.

All the best and plz share with us the solution u come accross.

ARPIT SHARMA (Find Yourself Believe Yourself & Be Yourself) (386 Points)
Replied 19 June 2011

correction statement has to be filed with the NSDL-TIN

it's not revised return instead

svraghunath (ca) (92 Points)
Replied 20 June 2011

File the revised return. and towards excess amount paid adust against your etds future returns

CA Nand Kishore (Accounts officer - Internal Audit) (49 Points)
Replied 20 June 2011

Dear Mr. Kunal there is a Circular by the CBDT on the refund/adjustment of excess TDS paid. the Circular no, is

CIRCULAR NO. 2/2011 [F.NO. 385/25/2010-IT(B)], DATED 27-4-2011

you can refere to the above circular and can get the excess TDS paid.

1 Like

Rajesh Chheda (Service) (22 Points)
Replied 20 June 2011

Yes, You can revised return and claim refund of excess amount paid from department. as per circular no. 2/2011 dtd. 27th Apr 2011

Mukundan (Officer) (21 Points)
Replied 22 June 2011

There is nothing to worry. Like an individual who claims refund by filing incometax return if he has paid excess tax, the Tax Deductor can claim the refund of excess amount deducted by filing revised E-Tds return. He has to show the Tax deducted as 1600 and Tax remitted as 14400. When the return is processed by the concerned TDS Officer, the excess amount remitted will be refunded though you wont get interest u/s 244A.