I have deducted and paid excess TDS on debenture interest for FY 2007-08. Is there any way to set it off against any other TDS payments pending, because TDS on Auditor's fees is still pending, can i setoff the excess TDS paid for debenture against TDS payable for Auditors for FY 2007-08.
Please tell me under which section it can be done and how do i show under Form 16A
28 July 2008
No it is not possible. You have nothing to do with the excess deduction of tds. It is the deductee who can claim refund by filing it's RTI on or before due date. You can not set off the excess of one section from the payable of another section.
CAclubindia
