For wrong challan paid in Income Tax
Dear Experts,
One of my client has been paid amount in TCS instead of TDS. Now, this is possible convert from TCS to TDS ??
Taxpayer deposited TCS instead of TDS; cannot convert on challan, must seek reconciliation and refund procedures. A taxpayer mistakenly deposited tax under TCS instead of TDS; the forum response explains that TCS and TDS are distinct statutory mechanisms with different provisions, obligations and timing, so a direct conversion on the challan is not possible. The recommended remedy is to reconcile records and pursue adjustment or refund through the tax authority's prescribed procedures, including filing claims or rectifying challans as allowed by the jurisdiction, and to consult the taxpayer's assessing office or tax department for specific corrective steps. (AI Summary)
Income Tax