TDS

This query is : Resolved

ajit (Querist)
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11 April 2011 Dear all
Thanks for all of you.
My query is, When I was done 1 st qurter TDS (subcontractor) return wrongly then I was revised it. But, after 6 monts our head reject one subcontractor bill amt.This amt is very less than previous bill. so,i was 3 months back revised retrun file when this bill amt is high. Sir TDS ded from his full bill amt( Exp. Bill amt 9,60,000/- Tds ded & paid to gov a/c 9600/- & after Deducation of the bill the amt of current bill is 1,90,000 & TDS payable is Rs. 1900/-but i have already paid Rs9600/-)Tell me,if i have going to tds certificate issue toits wrong na.Pl Tell what can I do this situation, Suggest me can I revised tds return 2 time or not ?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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12 April 2011 what ever difference you adjust in current quarter bills and you cannot reveres the tds which already paid in one party account,so adjust the same with party

CA Manish Agrawal

CA Manish Agrawal (Expert)
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12 April 2011 Open The Software, Go To Correction of TDS Portion and Alter The Amount Credited Rs. 190000 In Stead of 960000/- .
Now there are 2 ways either Adjust the Previous Excess in Current Quarter, If U Want To Adjust with The Same Party. If U Not Want To Adjust further Pay the TDS to Avoid any Rejection in TDS Revised Return. Now, You Are saying The Next Paid/Credited Amount is Very Less. Either Further Pay Tax or Adjust Against Excess of Previous Quarter with the Same Party.
However, You Have to Alter The Amount Credited/Paid in Previous Quarter But Amount of TDS will remain the Same with a Higher Rate Just Amount Paid/Credited will be Reduced, Issue The TDS Certificate with Higher Tax Credit which Belong to the Assessee. he will Get Credit for the Same and either Claim Refund or can Adjust against Other Tax Liability in his own ITR.

-- CA Manish J. Agrawal

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