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mahipal m. chande (Querist)

23 September 2014 we have received a bill for job charges for rs.50000. we have deducted 5000 as tds u/s. 194 c and paid the tds.

Now after payment of tds we found major defect in job work and denied the whole bill.

amount payable to jobworker was 45000 (50000-5000) before rejection of job work.

Now how to pass job work return entry?

Nikhil Kaushik

Nikhil Kaushik (Expert)

25 September 2014 you will claim Rs 45000 back from the worker. and Rs 5000 from tax refund through Form 26B

mahipal m. chande

mahipal m. chande (Querist)

12 October 2014 thanks sir.
what is proper entry sir

party a/c. dr.50000
to claim (indirect icome)50000

or

party a/c. dr.50000
to job charges 50000(job return)

mahipal m. chande

mahipal m. chande (Querist)

12 October 2014 another query sir

by mistake the account head of an exps. a/c.
gone as asset a/c. and ca also filed report wihoot correcting it.

now our assets were overstated and income was also over sated ?

what to do in this type of situation?

how to handle the matter if scrutiny arises?

Nikhil Kaushik

Nikhil Kaushik (Expert)

13 October 2014 why not revise the books and let Auditor issue a fresh report. file revised return on the basis of revised accounts.

mahipal m. chande

mahipal m. chande (Querist)

13 October 2014 but sir i think there is no provision for revising and uploading revised tax audit report

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