Nullification of deductees with higher deduction in returns
This query is : Resolved
24 March 2016
Dear All
One of my client has deducted tax a higher rate for one of their deductee, due to non-availability of PAN.
Problem here is that single transaction has been filed in 2 different quarters, which is resulting double deduction.
Now we have to nullify the transaction filed in the wrong quarter.
But neither the NSDL RPU or any other private software providers provide the option of nullifying the deductee entry with HIGHER DEDUCTION.
Kindly give you valuable opinion on solving this issue.
One of my client has deducted tax a higher rate for one of their deductee, due to non-availability of PAN.
Problem here is that single transaction has been filed in 2 different quarters, which is resulting double deduction.
Now we have to nullify the transaction filed in the wrong quarter.
But neither the NSDL RPU or any other private software providers provide the option of nullifying the deductee entry with HIGHER DEDUCTION.
Kindly give you valuable opinion on solving this issue.
24 March 2016
Revise the TDS Returns for the two quarters. In one quarter there will be higher TDS deducted than due. Adjust is with payments in future quarters, which is permissible. Just a caveat - this does not mean you short deduct TDS in future quarters to the extent of excess deduction (except in the case of the same assessee) only short deposit the tax due and adjust the excess paid.
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