TDS EXCESS PAID

Dear Experts,

We paid excess tds on rent for the month of March 08. My query is - how to get that tds back from the dept. Is it possible to adjust excess tds in the cur. fin. year -2008-09. If not how to adjust it? And will it cause any problem while filing the TDS returns.

Urgent please reply soon.

Replies (6)

While furnishing your return of income you can claim it by producing TDS certificate.

The deductor cab be cliam with his return of income at the time of Assessment

4IRZ

It is not possible to adjust the excess paid amount in current financial year.  Either you should set off against the business income are to claim refund from department by filing the return.

You cant adjust excess TDS paid Amt. You provide TDS Certificate to the Party of TDS deduct Party & adjust the Amt from Party A/c.If not clear concept ask me freely. I have 8 yrs experience in Account & Taxation. I face many problem like this & clear this concept with my CA. Thanking you.

Thanks Mr Batliwala, its good solution to recover excess paid tds through party, since party can adjust against their tax liabilities.

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