20 April 2010
It can not be adjusted in any manner. Employee should file his/her Income Tax Return and claim Refund. As and when Excess TDS will be refunded, you will get intrest on it.
21 April 2010
sorry sir all of you are dont understand my question My organisation is Educational society and we are deducting TDS from employees Rs.100000(for 20 Employees) But paid in SBI bank with my society name Rs.118000/- now my question is above 18000/- can we adjust to society next tds payment to department