Provision for interest & tds
This query is : Resolved
Anish Chowdhary
(Querist)
10 September 2019
I have a Pvt. Ltd. company and i have given unsecured inter corporate loan to a company. The Company is not paying interest neither refunding the principle.
During prior years the company was deducting tds and depositing the same. But during f.y 18-19 the said company didn't deduct any tds and deposited the same. They have also not returned our signed confirmation for f.y 18-19.
This year i.e f.y 19-20 we have filed a case in court for the same calling for refund of my money along with interest.
So, should i provide for interest and tds in my books for f.y 18-19 or not.
During prior years the company was deducting tds and depositing the same. But during f.y 18-19 the said company didn't deduct any tds and deposited the same. They have also not returned our signed confirmation for f.y 18-19.
This year i.e f.y 19-20 we have filed a case in court for the same calling for refund of my money along with interest.
So, should i provide for interest and tds in my books for f.y 18-19 or not.
11 September 2019
You can provide for interest but not for tds in your in your books of accounts.
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GSTR-9C filing
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Form 144 TDS Return Validation error
- Applicability of tax on invoice
- Advances to related party
- Capital Gains Tax on Inherited Mutual Fund
- Employee secondment
- GSTR9 Annual Return
- LLP audit and disclosure
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
