Excess tds paid by deductor

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Querist : Anonymous

Querist : Anonymous (Querist)

15 March 2014 Dear Members
X Co. Ltd. paid TDS on Director's Salary Rs. 5,00,000. But after correcting errors it was payable only Rs. 2,00,000.
How to claim Rs. 3,00,000 refund by company? Kindly give me full details about this process.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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16 March 2014 well if the company has not deposited the tax with the govt, the company can easily refund the same to you

if the company has deposited, then the same can be adjusted against future payments to the said director

if the adjustment is not working out, the company can claim refund of the excess TDS from the department and can refund the same to you

Querist : Anonymous

Querist : Anonymous (Querist)

16 March 2014 But what is exact procedure for claiming excess TDS paid(process to claim from ITD)?

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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16 March 2014 procedure for director is to file the tax return and claim refund

for deductor(company) Form 26B is to be filed online using tdscpc.gov.in

Querist : Anonymous

Querist : Anonymous (Querist)

16 March 2014 Is form 26B required Digital Signature?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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16 March 2014 yes..it does require digital signature

Nikhil Kaushik

Nikhil Kaushik (Expert)
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16 March 2014 please refer this link for the complete process:

http://www.simpletaxindia.net/2013/11/refund-application-on-form-26b-for.html

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Querist : Anonymous

Querist : Anonymous (Querist)