A company is deducting TDS for interest, which is being paid by it in every month through out the year.
A small mistake has taken place in the calculation and the amount deducted has become excess in the month of Jan, can the company adjust that excess deduction in further payments, i.e.., Feb & March…???
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TDS Vs Interest
Replies (8)
Yes, it can be adjusted in Feb and March
yes it can
Yes it can be done. Because as far as the revenue is concerned there is no loss for them. It can be told that the the TDS deducted in excess relates to the advance payment and hence would be allowed.
Yes it can be done. Because as far as the revenue is concerned there is no loss for them. It can be told that the the TDS deducted in excess relates to the advance payment and hence would be allowed.
Yes it can be done. Because as far as the revenue is concerned there is no loss for them. It can be told that the the TDS deducted in excess relates to the advance payment and hence would be allowed.
yes it can be adjuisted...
There are no any provision saying that you can adjust.
But there is no any provision saying that you Can not adjust.
So we can do til any one oppose.
Hi Murali,
this can be adjusted in feb & Mar. But while preparing Quaterly Return of TDS, make sure that all the amount i.e., Interest and TDS should be adjusted carefully.
Thanks,
Bidyadhar Buxi
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