TDS

This query is : Resolved

CA Abhishek K. Singh (Querist)
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24 February 2011 if TDS of a party is deducted in a year by deductor but deductee slaimed that tere will be no more business will be done with the deductor and they have not exceed the limits prescribed for deducting TDS. Is it possible to refund the TDS amount by deductor to deductee ?
(i) if dedutor has deposited the amount to the dept.
(ii) if he hasn't deposited it with dept.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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24 February 2011 If the threshold limits does not crosses in a financial year >

1> since the deductor has already deposited the TDS, they can only issue the Form 16A. TDS can't be refunded.

2> If this TDS has not been deposited then this can be paid back to the party (deductee)