1 of our client has deposited excess tds amt of Rs 12000 . whereas the tds liability for that month was Rs 10000. both liability & payment was u/s 194c.
plz let me know what are the remedies available & help me in getting out of this situation...............
08 February 2010
as per theoritical method make application to A.O. But I didn't see yet any case in which Income tax refund TDS. In practical see next month TDS bill if possible adjust it with that month in which TDS is more. by this you can adjust other's TDS with some else. Because you didn't provide detail with deposit so in return you can easily adjust. for example if you deduct tds of A Rs. 10000 but paid 12000 in Nov 09. Check bill in Dec if there is bill of B in Dec in which TDS 194C to be deducted then adjust it with Nov excess. When you will file return in 15 Jan then adjust both.
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