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Tds set off (Income Tax)

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This query is : Resolved

Author : Anonymous

( Author )
09 January 2014

IS TDS SET OFF IS AVAILABLE OR NOT..?
EX.SUPPOSE I HAVE TDS PAYABLE IN JAN RS.2000 AND I HAVE TDS RECEIVABLE OF RS.1000..SO CAN I PAY ONLY RS.1000 OR NOT..??


CMA Ramesh Krishnan

( Expert )
09 January 2014

No. TDS payable which you are paying for other persons tax. TDS receivable is the tax of yours. so cannot set off both , need to pay Rs.2000 total tds payable. Rs.1000 receivable you can claim in your income tax return


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