A Company has deposited TDS on Commission and filed return for the quarter ended 30th Sep., 2009 and 31st Dec., 2009.
Now it has come to the knowledge of the Company that it has deposited excess TDS during Sep’ Qtr and Short TDS during Dec’ Qtr. However TDS Certificates have been issued to thge parties of the amount actually deposited.
Please guide if it is possible to adjust the amount of excess TDS deposited during Sep Qtr with the Short payment of TDS in Dec Qtr.
What would be the procedure if it is possible to adjust. And if it is not possible what remedy is available with the Company.
21 June 2010
Yaa Deepika you can explain the same in front of AO if the case comes for scrutiny the crux of the whole matter is that as an assessee we should not and must not avoid our liability...! Just be prepare to explain wht you just explained to us..!
21 June 2010
As per my experience, (no need to sit with AO). As per filed returns, we can issue tds certificates to vendors. here and there difference will be there. but finally it will be tallied with vendors by Dec 2009. (This is my opinion only, please correct if im wrong)
CAclubindia
