Tds laibility

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 September 2011 If a Company has wrongly paid excess amount of TDS to Govt while paying TDS liability in FY 1011, then can this excess TDS paid by Company can be adjusted against next year TDS Liability or can company Claim Refund of that or Company will not do any thong about that excess payment.

CA Navin Jain

CA Navin Jain (Expert)
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08 September 2011 EXCESS TDS PAID NEVER BE ADJUSTED AGAINST NEXT YEAR LIABILITY.

Ravi Jhamb

Ravi Jhamb (Expert)
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08 September 2011 If company has been paid the excess amount of Tds then it will adjust the next year tax liability if company will continue the business. Other wise they can apply for refund. Refund process is consumed more time otherthan adjustment.

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