Last year TDS
This query is : Resolved
Nitin Bhatt
(Querist)
23 May 2011
Dear Experts,
we have received a notice from Income tax depp U/s 201(1) for short deduction of TDS in f.y 2008-09.
(
rs.40930+ interest 660, now we will pay this short TDS amount in this year 2011-12 what are the entries which we have to pass in the books (2011-12) since we can not change the audited balance sheet of 2008-09,
Ist entry
1) expenses DR
2) TDS on proff CR
3) Party CR
(narration Short TDS for the year 2008-09)
IInd Entry
1)Tds on proff services DR
2) interst on TDS
2)Bank A/c CR
(Being TDS Deposited)
Now my question is shall we also file a revised return for 2008-09 & fresh form 16a should be issued to party.
& if he already filled his return for the f.y 2008-09 , can he take credit of this revised form 16a .
thanks ,
Nitin Bhatt
we have received a notice from Income tax depp U/s 201(1) for short deduction of TDS in f.y 2008-09.
(
rs.40930+ interest 660, now we will pay this short TDS amount in this year 2011-12 what are the entries which we have to pass in the books (2011-12) since we can not change the audited balance sheet of 2008-09,
Ist entry
1) expenses DR
2) TDS on proff CR
3) Party CR
(narration Short TDS for the year 2008-09)
IInd Entry
1)Tds on proff services DR
2) interst on TDS
2)Bank A/c CR
(Being TDS Deposited)
Now my question is shall we also file a revised return for 2008-09 & fresh form 16a should be issued to party.
& if he already filled his return for the f.y 2008-09 , can he take credit of this revised form 16a .
thanks ,
Nitin Bhatt
Nitin Bhatt
(Querist)
23 May 2011
Dear Experts,
we have received a notice from Income tax depp U/s 201(1) for short deduction of TDS in f.y 2008-09.
(
rs.40930+ interest 660, now we will pay this short TDS amount in this year 2011-12 what are the entries which we have to pass in the books (2011-12) since we can not change the audited balance sheet of 2008-09,
Ist entry
1) expenses DR
2) TDS on proff CR
3) Party CR
(narration Short TDS for the year 2008-09)
IInd Entry
1)Tds on proff services DR
2) interst on TDS
2)Bank A/c CR
(Being TDS Deposited)
Now my question is shall we also file a revised return for 2008-09 & fresh form 16a should be issued to party.
& if he already filled his return for the f.y 2008-09 , can he take credit of this revised form 16a .
thanks ,
Nitin Bhatt
we have received a notice from Income tax depp U/s 201(1) for short deduction of TDS in f.y 2008-09.
(
rs.40930+ interest 660, now we will pay this short TDS amount in this year 2011-12 what are the entries which we have to pass in the books (2011-12) since we can not change the audited balance sheet of 2008-09,
Ist entry
1) expenses DR
2) TDS on proff CR
3) Party CR
(narration Short TDS for the year 2008-09)
IInd Entry
1)Tds on proff services DR
2) interst on TDS
2)Bank A/c CR
(Being TDS Deposited)
Now my question is shall we also file a revised return for 2008-09 & fresh form 16a should be issued to party.
& if he already filled his return for the f.y 2008-09 , can he take credit of this revised form 16a .
thanks ,
Nitin Bhatt
02 August 2024
https://docs.google.com/document/d/1AiMMle6a11yyfPaWB5DFMqnp72uIEP1mqHjgfXahoBQ/edit?usp=sharing
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