Mistake - Tds deposited in wrong tan

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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.

AI Summary

Company A's TDS Error: Deposited Under Wrong TAN, Possible Refund or Adjustment Needed, System Improvements Urged A mistake occurred where Company A, a private limited company in India, deposited TDS meant for its deductees under the TAN of Company B, a liaison office. This misallocation could lead to credit appearing under the wrong TAN, causing discrepancies for the actual deductees. An advisor suggests that the issue cannot be adjusted between the two companies under current tax provisions. The recommended solutions include adjusting the TDS with existing liabilities if possible or claiming a refund. The issue highlights the need for improvements in the TDS/TCS system to prevent such errors in the future.