TDS refund query
This query is : Open
16 April 2009
I have deducted TDS on a contract and have deposited the same. But after 6 months I came to know that the contract has not been materialized and the party has refunded me the money which is actually paid him.
But I have deposited the tax in his name; he is not willing to refund me the same as the income does not accrue to him.
How can I claim this refund with the Income Tax Department?
But I have deposited the tax in his name; he is not willing to refund me the same as the income does not accrue to him.
How can I claim this refund with the Income Tax Department?
16 April 2009
Adjust the amount aganist your future liability under the same head i.e 194C.
17 April 2009
Could you please provide some notificateion/circular for doing the same as the exces paid is more than one year earlier
17 April 2009
Pankaj,
You have two options,
01. Give him TDS certificate for the deducted amount.
OR
02. File revised return & adjust the excess TDS to other party.
You have two options,
01. Give him TDS certificate for the deducted amount.
OR
02. File revised return & adjust the excess TDS to other party.
17 April 2009
The other party is not ready to take the TDS certificate as the income has not accrued to him.
This relates to Arp,08 , we can revise the TDS return but will not be able to adjust in that quarter as the amount is already paid.
Can we adjust with this quarter, if yes than under which notification. Someone told me that we can adjust the same with our Income Tax liabilty but without any realibilty
This relates to Arp,08 , we can revise the TDS return but will not be able to adjust in that quarter as the amount is already paid.
Can we adjust with this quarter, if yes than under which notification. Someone told me that we can adjust the same with our Income Tax liabilty but without any realibilty
21 April 2009
There is circular no 15/1995 which gives the option of adjusting excess TDS paid within the same head.
21 April 2009
Please send me the same.
The TDS relates to previous year
The TDS relates to previous year
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
