TDS

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 July 2010 I booked 1 expense & made TDS. on due date I paid the TDS. I filed return for the same. Now I have to reverse the expense. what about TDS ?
Can I adjust TDS amount in next Quartr ?
Can refund of TDS can be claimed ?

Shyam Lal Naik

Shyam Lal Naik (Expert)
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08 July 2010 You can issue TDS certificate to the party, if possible. There is no system of reversal of TDS on reversal of expenses. This is the most practical solution.

Querist : Anonymous

Querist : Anonymous (Querist)

08 July 2010 no other solution ?

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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08 July 2010 You can adjust if with in the financial year , correct the return removing the deductee and showing excess challan payment and adjust the same in further quarter. With in the financial year it can be adjusted, if the beyond the financial year you cannot adjust