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Tds

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(Querist)
20 February 2015 if we deduct excess tds from a party in 1st quarter..can we adjust it in 3rd quarter by not deducting tds on payment of 3rd quarter..
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
21 February 2015 If you have deducted the amount and passed the entry in the books you should pay it and the same can not be adjusted against 3rd quarter payment by deduction short TDS.

Deductee will get the due credit of excess TDS so there should be no issue.
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Rupesh Jain

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Rupesh Jain (Expert)
24 February 2015 you have to deduct TDS as per amount credited in his account.
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