Shashi Kumar C.G. (Articled) (158 Points)
28 April 2008Dear 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.
M.Sriram Shenoy
(CA Final)
(814 Points)
Replied 28 April 2008
While furnishing your return of income you can claim it by producing TDS certificate.
Rakesh
(CA)
(308 Points)
Replied 28 April 2008
The deductor cab be cliam with his return of income at the time of Assessment
Hari Venkata Ramana
(M.Com, AICWA)
(124 Points)
Replied 29 April 2008
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.
ABDUL KADER BATLIWALA
(ACCOUNTANT)
(20 Points)
Replied 29 April 2008
suresh
(M-F&A)
(69 Points)
Replied 30 April 2008
Thanks Mr Batliwala, its good solution to recover excess paid tds through party, since party can adjust against their tax liabilities.
CAclubindia
