1. Check whether party is ready to pay the amount back & you can give them excess credit. 2. Let the excess payment be there you can claim this as refund from TDS Range AO.
01 July 2009
The excess TDS paid is first adjusted against the existing liability of the deducter under any of the Direct Tax Acts and after meeting such liability the balance amount is refunded to the Assessee.
16 July 2009
I am not aware of any situstion where the excess TDS paid by the deductor can be adjusted against the Income tax payable by the deductor. If you have any instance / circular to this sort, please let me know.
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