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Excess remittance of tds to central govt
Good evening friends,
What to do when excess TDS is remitted to central govt. at the end of the financial year.
for example: Professional services of Rs. 1,00,000/- and TDS deducted @ 10% i.e. Rs. 10,000/- but remitted to central govt. Rs. 20,000/- , whereas payment made to the deductee is Rs. 90,000/-.
Replies (4)
Ask the deductee to claim and refund the amount whenever he receives it.... Otherwise the deductor can also claim refund as per circular 2 of 2011....
make online refund req traces n submitt document to AO...u can get refund if u hve no demand earlier
At the time of filing of form 26Q return for such TDS payment, use only Rs.10,000 TDS in that challanin the deduction row, remaining excess paid balance can be adjusted in next month TDS.
Actually old challan amount Rs.20000 is related to previous financial year.while showing prevous chaĺlan(balance Rs.10000) in the next financial year it wont show error in the return?
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