Tds return (24q)

sir,

I have filed a Salary TDS return (24Q) for June 2011, unfortunately TDS was deposited twicly but taken in return once.  Now one challan is still unclaimed.

Can I get this amount in current FY or Can I revise the TDS return for that Qtr & claim this amount.

Please advise

Replies (5)

That Challan you have to show in Revise Returns in the quarter which you have done earlier.

You can claim the excess amount paid in the next Quarter i.e. you can adjust your future tax liability using that challan. That would be more viable.

If the same challan has been deposited wrongly then you can claim that in next quarter but in that case there will be some conflict between date of deposite and date of deduction of TDS.

If you can claim that TDS in current quarter then Revised return will be better option but if you have not paid any amount on which TDS could be deducted and should be deposited then you can claim that in next quarter.

 

 

You can claim that TDS in the next quarter but within the financial Year.

There won't be conflict in that, it is being authorized by CBDT CIRCULAR NO. 2/2011 [F.NO. 385/25/2010-IT(B)], DATED 27-4-2011, As per the circular if you recognise the excess payment within the same FY then you can use that challan in the next quarter within the same FY.

In case, the detection of such excess amount is made beyond the financial year concerned, such claim can be made to the Assessing Officer (TDS) concerned. However no claim of refund can be made after two years from the end of financial year in which tax was deductible at source.

you can adjust this excess amount with your future tax laibility within the same financial year 

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