Refund or Adjustment of Excess Tds deducted

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Laxmikant agrawal (Querist)
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08 February 2011 Dear sir
if by mistake someone have colletd excess TDS from deductee a/c i.e. @20% instead of 10% in 3rd quarter i.e. oct to dec and deposited the same. After that period no dealings have been made with that party and no TDS liability is there of deductor to deduct TDS under the same head i.e. section like 194c or 194j then wheather there is any provision under the income tax act to get the refund of excess deducted TDS deposited with revenue department or any provision regarding adjustment of TDS deposited with different TDS code with other TDS code if so than please inform.

Juzer Sadikot

Juzer Sadikot (Expert)
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08 February 2011 Refer my response to in https://www.caclubindia.com/forum/re-how-to-get-refund-of-excess-tds-paid-49180.asp

Guest

Guest (Expert)

08 February 2011 File the TDS return. You can/will get refund

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Laxmikant agrawal

Laxmikant agrawal (Querist)
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15 February 2011 sir
actually my question is that i have deducted TDS under different section and deposited the TDS by giving reference of other section code than what is the procedure for the adjustment or refund of TDS deposited with wrong section reference in challan. please help me as i am not clear with previous answer.

Guest

Guest (Expert)

16 February 2011 If you have deposited TDS under wrong section, you file correction statement / revised statement with wrong section without claiming any credit. You will get refund. Deposit tax under correct section and file revised /correction statement. By this way, you have to deposit tax once more.