Excess tds paid

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puneet pandey (Querist)
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07 April 2012 Respected sir,

I have deducted excess TDS on a payment (Rs.50,000 instead of Rs.5,000). What is procedure to get the refund?

Thanking you in appreciation.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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07 April 2012 In case you have excess deducted but not deposited the amount, you may rectify the TDS entry.

However, if you have even deposited the amount also, the excess amount paid can be adjusted against the amount payable during the same Financial Year.

If such excess has been paid in the last quarter or remains unadjusted, the assessee will get refund after the process as prescribed U/s 200A.