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Home Forum Income Tax Month 5 2009 2009 (5) This
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Mistake - Tds deposited in wrong tan - Income Tax

Issue Id: - 1204
Dated: -22-05-2009
Mistake - Tds deposited in wrong tan

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.

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Dated: - 22-05-2009
By: - Rama Krishana
This is not a mistake but a blunder. How can this type of problem arise, where both the units are independent (kindly see your stand before the department). There is no provision in income tax to adjust TDS or to share TDS by two companies as deductor. Yes, if you can adjust the same with TDS liability, you should. Otherwise, claim the refund. This type of mistakes would be solved once the new system of TDS / TCS become effective.

Dated: - 01-08-2013
By: - Pravin Yogi


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