income tax
This query is : Resolved
15 July 2011
hi,
I have raised personnal debit note to one of my party.
party has deposited the TDS amount of our debit note n also filed TDS return. But till now he has not paid the principal amount of debit note.
1.it is necessary to file the return n pay remaining tax amount of debit note?
2.Incase if he doesn't pay.can we get tax refund?
I have raised personnal debit note to one of my party.
party has deposited the TDS amount of our debit note n also filed TDS return. But till now he has not paid the principal amount of debit note.
1.it is necessary to file the return n pay remaining tax amount of debit note?
2.Incase if he doesn't pay.can we get tax refund?
15 July 2011
yes. the debit note amount need to considered as business nature income and pay the difference tax, in case if he not paid written off the bad debts and claim p&l further years
15 July 2011
hi Ramesh
thanx for your reply,
after deducting & filing TDS by the party,
is there any time limit for him to pay the principal amount.
Has he have fully rights to reject debit note after filing TDS on that?
thanx for your reply,
after deducting & filing TDS by the party,
is there any time limit for him to pay the principal amount.
Has he have fully rights to reject debit note after filing TDS on that?
15 July 2011
No such limit fixed by the act to pay the principal amount, this in between the parties
but my view, once he accepted the debit note and deduct the TDS and paid, he cannot reject further
but my view, once he accepted the debit note and deduct the TDS and paid, he cannot reject further
15 July 2011
Agreed with Ramesh.
18 July 2011
hi ramesh,
can NRI start up Private Limited company in india?
can NRI start up Private Limited company in india?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Post Office RD Interest
- Itr 1 processing
- Reporting Income under Section 44ADA
- Building and other construction workers welfare cess act 1996
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Bank Accounts in Balance Sheet for ITR 3
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Eway bill for machinery reparing
- Lift replacement entries in housing society
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
