We are running a school in a Rented premisses. We are deducting TDS on our payment of rent to the landlord.
In the previous year ( FY 2017 - 18 ), we have made an excess remittance of TDS, equalling to TDS on 2 month's rent and this amount has been made in a separate challan. We have mentioned the Assessment Year as 2018 - 19 in that challan. While filing the TDS return for the previous FY ( 2017 - 18 ), we have not mentioned this payment in the return. Now, can we adjust the said TDS amount in our TDS return for the FY 18-19, since the AY in the said challan is " 17-18 " . Will the system accept this ?
22 May 2019
Dear Mr Gopalakrishnan, You can adjust TDS in subsequent quarter, further there is no any restriction to adjust Challan in particular Section code . Suppose If u paid challan Under Section 194J than you can also adjust it with other Sections code Thanks
23 May 2019
Sir, One more clarrification. With reference to my earlier querry, can I adjust the excess TDS paid in FY 2017 - 18 in my TDS Returns for 4th quarter of FY 2018 - 19. Pls. Advice.
29 May 2019
Yes you can adjust in next quarter,. This TDS challan will reflect in both the returns. say by mistake Challan paid for ₹ 5500/- U/s 194J . Actual TDS for the quarter is ₹ 2000/- 194C &. ₹ 500/- 194J, Now This challan would be adjust against deductee of 2000/-& 500/- and rest ₹ 3000/- can be adjust in next quarter . Thanks
29 May 2019
You can take same challan in return period of next and previous 1 year but it is to be kept in mind that return to be submitted manually at tin nsdl center not online.
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