we are a company and we do business of giving loans. the interest gets attracted towards TDs and we claim it.
but there are some party which file TDs returns only on payment of interest and we show interest on accrual basis..how can we claim TDs if income is on fy 2015-16 but payment is done in fy 2016-17 hence TDs is visible only in next year 26 as... so how should we show income and TDs.
the other party is not following the provisions property....
book entry or payment which ever is earlier applies for this and he will get a notice also on less deduction.
you don't change the process for him you do it on accrual basis and discuss with the other party to change their practice
CAclubindia
