Adjustment of excess tds deducted

[madhavvan n]

if tds has been deducted in excess ( under all sections of TDS) can the excess be adjusted against future tds liability and what is the process can the etds return be revised

[Rahul Bagaria]

you can adjust the excess tds if the transaction pertains to the same quarter. However if the transactions are occuring between two quarters you need to file a revised return by adjusting the excess liability

[Mukesh Kumar]

Deduction of excess TDS is one thing and deposit of excess TDS other thing. once you deposit the excess TDS after being deducted in excess and shows accordingly, only the way is to revise the return, if already submitted. Otherwise, I believe that the same by adjusted with the next quarters liability but it is doubtful that it can be carried forward to next year.

AI Summary

Guidance on Adjusting Excess TDS: Adjust within the same quarter or file a revised return for different quarters. A participant inquired about adjusting excess Tax Deducted at Source (TDS) against future liabilities and revising e-TDS returns. One respondent advised that excess TDS can be adjusted if the transactions occur within the same quarter, but a revised return is necessary if they span different quarters. Another respondent distinguished between excess deduction and deposit, stating that once excess TDS is deposited, revising the return is the only option if already filed. They expressed doubt about carrying forward the excess to the next fiscal year but suggested it might be adjusted against the next quarter's liability.