e TDS Return

This query is : Resolved

CA Suresh Choudhary (Querist)
Follow

21 April 2009 If the etds payment in the first quarter was short by Rs. 65000/- then can we adjust the same against the excess payment of Rs. 75000/- in the second or third quarter while filing the quarterly return of tds.

Regards

CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
Follow

21 April 2009 Yes you can.

Shyam Lal Naik

Shyam Lal Naik (Expert)
Follow

21 April 2009 So for the data structure of e tds is concerned, each challan should pretain to any one quarter. A challan can not represent deductions in more than one quarter.

If the challn amount is broken up. The system can not match the amount with the details uploaded by the collecting banker.

The solution is to incorporate the underlying deductions of Q1 in Q2.

Upgrade to CAclubindia Pro. Subscribe Now!

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
Follow

21 April 2009 I agree with Mr. Shyam Lal Naik. But I think reverse case is possible. If you have deducted excess TDS in earlier quarter, then it can be adjusted in the next quarter. Well, In your case, it shall be better to revise your Q1 return and do as Mr.Naik has suggested.