Cash basis of accounting & tds accounting
This query is : Resolved
02 September 2016
Dear Expert,
My client is following Cash basis of Accounting.He is engaged in logistic Business and receiving payments after TDS deducted on it. Due to method of accounting there is difference of TDS amount appering in 26AS and Our books of A/cs.
Can Tds be carried forward to next year/years according to the system of accounting.
Please Guide me.
Thanks in advance
My client is following Cash basis of Accounting.He is engaged in logistic Business and receiving payments after TDS deducted on it. Due to method of accounting there is difference of TDS amount appering in 26AS and Our books of A/cs.
Can Tds be carried forward to next year/years according to the system of accounting.
Please Guide me.
Thanks in advance
03 September 2016
First of all Cash basis of accounting now a days is not in practice(except some of the enterprises). So its better to shift to accrual basis of accounting. Secondly, yes the TDS can b forwarded to next year.
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