Shankar (Accounts Executive) (103 Points)
14 April 2010I have wrongly deducted Extra TDS of an employee and same amt has been paid to Govt. now the employees is not agree to accept the deducted TDS and demanding for extra TDS amt. Pl tell can i adj this extra deducted TDS in next months' salary. or if u have any other way pl. guide.
nikhil jain
(student)
(38 Points)
Replied 14 April 2010
just give him the TDS certificate and tell him to collect refund as u have already paid the amount to the government !!!! as per my knowledge u cannot adjust in next months salary !!!!!
Ashish M
(Chartered Accountant)
(2731 Points)
Replied 14 April 2010
You can decrease the TDS amount to be deducted for the next month as u have deposited excess this month.
Sec.192(3) reads as under:
"(3) The person responsible for making the payment referred to in sub-section (1) 72[or sub-section (1A)] 73[or sub-section (2) or sub-section (2A) or sub-section (2B)] may, at the time of making any deduction, increase or reduce the amount to be deducted under this section for the purpose of adjusting any excess or deficiency arising out of any previous deduction or failure to deduct during the financial year."
CA CS CIMA Prakash Somani
(Landmark Group)
(23502 Points)
Replied 14 April 2010
Yes, you can deduct the amount extra paid from the total dues to the govt.
CA.GAURAV SACHWANI
(JOB)
(161 Points)
Replied 15 April 2010
one way to tackle this problem is that is you have more than one employees which are covered under income tax brackets so you have deposited extra tds of salary of one employee and you can adjust the same from other employee in this way your problem is solved
Viswanathan.C.P
(Manager-Finance and Accounts)
(332 Points)
Replied 15 April 2010
Please reply for
the excess tds deducted in sec 194C can be adjusted in sec 192 in the same financial year
Viswanathan.C.P
Puneet Jain
(Dy Manager)
(40 Points)
Replied 15 April 2010
No.
While you deposit TDS it get deposited under specific Tax Code pertaining to one section. Once you deposit the TDS under which section say 194C in your case you cannot utilize the same for any other section say Sec192.
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