Excess deduction of tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 June 2014 hi friends,

Actually providing consultancy services,
i issued 3 invoices to the party aggregate of which was Rs 100000. the TDS was deducted by the party on 100000. However one of the bill was cancelled and payment in respect of other two bills(Aggregate around Rs.70000) have been received.but TDS has been deduted on 100000.
i just wanted to know that as i hve not earned RS.30000 even then i hve paid tds on that....whether it can be refunded by the party. party has issued debit note to me for the amount of cancelled bill.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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24 June 2014 if the TDS has been deducted and deposited with govt against your PAN, then better just claim the credit for the same in next tax return.