Carry forward excess TDS

Ask the Community Income Tax
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1

Hi,

What happens to excess TDS paid in the year? What is the refund process as well?

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2

Hi

You can use it for current year TDS by using that challan to adjust the same

Thanks and Regards

Natarajan S

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Also adding,]

When tax has been deposited more than the required tax deducted at source for a particular Assessment Year, the excess amount of tax can be claimed in the following quarters of the relevant year. The balance amount if any, can be carried forward to the next year for the claim in the TDS statement.

IT department has the process to claim TDS refund in case of excess deduction or payment:
There are no specific forms for TDS refund application. While filing the income tax returns, the taxpayer should furnish the income tax computation stating the tax payable and TDS deducted. Once these details are submitted in the portal, the refundable TDS is displayed. which can be claimed by the taxpayer.

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