18 October 2007
TDS once paid cannot be reversed in X co. eTDS return does not accept any negative entries. You have to deduct TDS again in Y company and deposit with govt. with interest.
18 October 2007
tax deducted and paid by one company cannot be adjusted with the other co. hence u'll have to deduct TDS again and pay to the credit of the central govt. if the company was the same but the party's were diff the u could have revised the returns.