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

Excess TDS adjustment: intra-quarter surplus can be set off; cross-quarter excess requires filing a revised TDS return. Adjustment of excess TDS deducted: where excess arises within the same quarter it may be adjusted against that quarter's liability; where it spans different quarters a revised TDS return should be filed to correct the deposited or reported excess. Excess deduction differs from excess deposit: if excess has been deposited and shown, the return must be revised; if returns are not yet submitted, intra-quarter adjustment against the next quarter's liability is commonly used, while carrying forward to the next financial year is doubtful.