tds refund

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CA.Krishna (Querist)
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18 June 2008 I have paid excess TDS for F.Y.2007-08 in May 31st(for 31st May).
Can I get refund of the same ? If yes , How ?

Shekar

Shekar (Expert)
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18 June 2008 U can....While filing ur Tax return..u will have give details of ur taxable income and on that tax payable will calculated and from this tax payable TDS will be deducted...If ur tax payable is more than TDS u will have pay balance tax..If TDS is more than Tax payable like in ur case...u will get refund..

Mention ur Bank Account number & MICR CODE in the ITR(Income tax return) to get refund from department

Shekar

Shekar (Expert)
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18 June 2008 If u have deducted TDS in Excess for any party and u have deposited the same with Goverment..Then u cant refund...Tht concerned party can get credit as i have exlained above....

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CA.Krishna

CA.Krishna (Querist)
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18 June 2008 thank u dear, but in our return We deduct our TDS for tax payable and not party's (suppose we deducted 2 times the same contractor and deposited TDS challan u/s 194C, than, how can we get refund the same ? I m corporate assessee and not filed TDS Return for last Quarter, so no question of credit to party a/c.