Mistake - Tds deposited in wrong tan

[Guest]

TDS deducted by one company (Company A) has been deposited in the name of other Company under the TAN number of that other Company (Company B). Following are the facts leading to this mistake: 1.That Company A is a Private Limited Company working in India. 2.That is a Liaison office in India(Company B).3.For the month of March 2009, (Company A) deducted TDS and accordingly issued cheques in favor of RBI for deposit thereof. 4.Inadvertently, the cheques so issued in favor of RBI towards tax deducted by Company A have been deposited on the challan made in the name of Company B on their TAN no. Company A during the course of time would need to issue TDS certificates in the name of deductees. The other impact of this mistake is that the credit would appear in different TAN no whereas there seemingly will be default in the name of actual deductee. Under the circumstances please advice right course of action to correct this mistake and oblige.

[Guest]

This is not a mistake but a blunder. How can this type of problem arise, where both the units are independent (kindly see your stand before the department). There is no provision in income tax to adjust TDS or to share TDS by two companies as deductor. Yes, if you can adjust the same with TDS liability, you should. Otherwise, claim the refund. This type of mistakes would be solved once the new system of TDS / TCS become effective.

[Pravin Yogi]

assdvff

[sanjeev daga]

TDS deposited in different name and tan no. How can i rectify it.

sanjeev daga

AI Summary

TDS misallocation: payment under wrong TAN prevents credit to deductees; remedy is adjustment against liability or refund. TDS deposited under the wrong TAN recorded credit against another entity, causing mismatch that affects TDS certificate issuance and may create apparent defaults; corrective routes are limited to administrative adjustment against the party in whose name payment was made if permissible, or pursuing a refund of the wrongly deposited amount.