Excess TDS Deducted Can be Adjusted

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 July 2010 One of our vendor has an exemption certificate for TDS but the vendor had handed over the certificate in May'10 only.

The certificate is valid from 01.04.10. But We had deducted the TDS for Apr'10 in normal TDS rate and same are being remitted also.

My question is can we adjust the difference i.e. the excess amount which we deducted ?

Shyam Lal Naik

Shyam Lal Naik (Expert)
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01 July 2010 Please check the date of certificate. If the date of issuance of the certificate is later than the date of deduction, the exemption is not available for the transaction.

Having said that, you can adhust the excess within the same quarter.

Querist : Anonymous

Querist : Anonymous (Querist)

01 July 2010 Thanks a lot. The date of issuance is 07.04.10. We had deducted the bill on 10.04.10.

It can not be adjusted for the financial year ?

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CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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01 July 2010 YOu can adjust tds with other service provider during the quarter April to june 2010.

Shyam Lal Naik

Shyam Lal Naik (Expert)
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01 July 2010 My answer is based on technical consideration. If the challan is to be used for any other quarter, the etds system does may not accept.

For example : for jul-sep qtr challans dated 30/06/xx or earlier will not be accepted. This is my personal experiance. Other than this, there is no legal bar in utilising the challan during the Financial Year.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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01 July 2010 aGREED MR. NAIK.
FOR EARLIER MONTH CHALLAN CAN BE USED FOR NEXT QUARTERS , BUT YOU CAN'T USE FOR ANY PASSED MONTH.