16 July 2013
If TDS is wrongly deducted twice for a particular deductee in the same quarter w.r.t. a single payment by the deductor, before filing of TDS return, how can one rectify this mistake for effect in the same quarter? Can it be done under the OLTAS scheme mentioned in the NSDL site? The TDS was paid online.
16 July 2013
Say payment made Rs 10000/- TDS deducted Rs 1000/-+ Rs 1000 again.
Since TDS deposited twice. Best way out is show in your TDS return as amount paid credited Rs 10000/- and TDS deducted and deposited as Rs 2000/-. In this way the deductee will be able to get the credit of the excess TDS deposited by you.
Or else if you can adjust the said TDS against some other deductee, you can also do that.
17 July 2013
No just say to deductee that we have deducted excess TDS and you will get credit of that excess TDS. Hopefully the deductee will agree. Can not be adjusted next year.
CAclubindia
