Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 October 2013 We have paid TDS u/s 194 C in the month July 2013 - For the bill to receive from Contractor.
Later the contract cancelled.
Now as on 30/9/2013 (after the payments of above said TDS), we have another payments in respect another contracts where we have deducted TDS during the month of Sept. 2013. TDS is not yet paid till 05.10.2013.
(1) Whether we can adjust the above said earlier TDS payment against the later payments towards another contract and file the return regular? Whether Law allows us to adjust earlier TDS in the later payments or not if it is in the same quarter?
(2) We have another payments in respect of Professional, Rent, Legal, commission etc. Can we adjust the above payments of TDS U/S 194 C (CONTRACTORS’ PAYMENT) against the payments towards professional, rent , legal, commission etc. payment ?
(3) If above both are not applicable, lastly whether we can claim refund? What is the procedure?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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06 October 2013 Yes. since the both transactions pertains to same quarter you can make the adjust of of tds payment with other deductees with in the same section.

we cannot adjust the TDS payment with other sections deductees,