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Reg - tds excess payment

SARGUNAN (MBA) (48 Points)

07 January 2017

Dear Sir / Madam, we have paid the excess tds Payment in FY 2014-15 (Dec-15). But we have not adjusted subsequently. Can we adjusted agst current payment (FY-2016-17). we request to clarify. Regards, S. SARGUNAN

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Venkatesh R Prabhu (CA) (136 Points)
Replied 30 March 2018

In case of excess tds payment and it is discovered by the deductor beyond the financial year concerned , such claim can be made to the Assessing officer tds concerned. However no claim of refund can be made after two years from the end of the financial year in which tax was deductible at source.