Adjustment of TDS Paid

This query is : Open

hardik (Querist)
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05 December 2008 Respected Sir,

Suppose if I had Deducted and paid excess Tds u/s 194C then

A. Can I adjust it against future payments to same party (deductee),

B. Can I adjust the same against payments to other parties (where Tds is Deductible u/s 194C only)

C. Can I adjust the same against payments to other parties (where Tds is Deductible under any other section other than 194C)

D. If yes, then can I do the same in respect of excess computation and payment of interest on late payment of TDS

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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05 December 2008 A. yes if it is in same financial year.
B. No.
C. No.
D. Question is not clear to me. Hence left open.

hardik

hardik (Querist)
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07 December 2008 Thank you sir.

A. Sir, I need your further guidance that where the answers are NO, how can I take the refund of excess TDS paid.

and

B. In respect of Interest I meant that if interest on late payment was not payable or was miscalculated leading to excess payment, how does the law provides relief for it.

Thank You again

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