Claiming tds deducted on project advance received
This query is : Resolved
18 July 2012
We have received advance payment in a contract , revenue from which would fall in next year. Can we adjust TDS on advance against our I tax liability of current year or we can adjust in the year in which revenue from particular project is booked?
18 July 2012
yes. your form 26AS shows current year then you can claim current year.
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