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excess deduction of tds

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(Querist)
26 February 2010 if a person deduct excess tax at source, is there any penalty on such person.
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CA Anshu Agarwal

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CA Anshu Agarwal (Querist)
26 February 2010 to the best of my knowledge there is no such penalty section.

But practically some person (unknown to correct rate) deduct tds at higher rate, ther should be some provision to prevent such practice.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
26 February 2010 If TDS deducted at a higher rate then no penalty leviable
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
26 February 2010 No penalty for excess deduction
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CMA Arif Farooqui

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CMA Arif Farooqui (Expert)
02 March 2010 agreed No penalty for excess deduction

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