Excess TDS Payment

[RAJENDRA JOSHI]

Dear All,

I had a TDS liability of Rs 4000 for March 13 but I wrongly deposited  Rs 40000 in govt treasury.

Why filling my TDS return for Q4, I have shown Rs 40,000 as payment against liability of Rs 4000.

My query is, How claim this excess payment of Rs 36,000 or how to adjust in return for 13-14.  

Thanks in advances,

R P Joshi

Dear Sir

While filing e TDS return ,we have to fill details of TDS deposited.There is a facility  of  filling details of excess TDS deposited .Amt unutilised say Rs 36000 in this case can be carried forward for next qtr

This adjustment is possible for same financial year

 

[RAJENDRA JOSHI]

Thanks a lot for your valuable reply,

In my case, I have deposited excess TDS for the month of March ie last quarter.

As per your opinion, I can not adj the same in next F Y . Is there any other option, whereby I can adj this amt or claimed it as refund.

Regards,

AI Summary

Excess TDS payment: e TDS returns allow carrying forward unutilised deposits within the same fiscal year; refund options queried.
The e TDS return permits reporting of excess TDS deposited and provides a facility to carry forward unutilised balances for adjustment against future TDS liabilities within the same financial year. Excess deposits made in the last quarter month cannot be adjusted in the next financial year, prompting the taxpayer to seek options for refund or other administrative remedies.