Murali Krishna (Employee) (350 Points)
25 February 2010
A company is deducting TDS for interest, which is being paid by it in every month through out the year.
A small mistake has taken place in the calculation and the amount deducted has become excess in the month of Jan, can the company adjust that excess deduction in further payments, i.e.., Feb & March…???
Bimal Thacker
(Proprietor)
(762 Points)
Replied 25 February 2010
Yes, it can be adjusted in Feb and March
JOYAL GEORGE
(Partner M/s Balan & CO Cochin)
(388 Points)
Replied 25 February 2010
Yes it can be done. Because as far as the revenue is concerned there is no loss for them. It can be told that the the TDS deducted in excess relates to the advance payment and hence would be allowed.
JOYAL GEORGE
(Partner M/s Balan & CO Cochin)
(388 Points)
Replied 25 February 2010
Yes it can be done. Because as far as the revenue is concerned there is no loss for them. It can be told that the the TDS deducted in excess relates to the advance payment and hence would be allowed.
JOYAL GEORGE
(Partner M/s Balan & CO Cochin)
(388 Points)
Replied 25 February 2010
Yes it can be done. Because as far as the revenue is concerned there is no loss for them. It can be told that the the TDS deducted in excess relates to the advance payment and hence would be allowed.
Bidyadhar Buxi
(Accountant)
(41 Points)
Replied 25 February 2010
Hi Murali,
this can be adjusted in feb & Mar. But while preparing Quaterly Return of TDS, make sure that all the amount i.e., Interest and TDS should be adjusted carefully.
Thanks,
Bidyadhar Buxi
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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