Reversal of tds on issue if credit note by the creditor
This query is : Resolved
21 June 2012
Hello everyone, I want to clarify that:
If we deduct TDS on some payment lets say in Q-1 and duly deposit the return. and then creditor issue an credit not in Q-2 for like any type of discount or can say amendmend in earlier bill then should we reverse the TDS on that amount and whats the treatment of that reversal of TDS in Return Filing. Shoul we have to revise the return of Q-1?
If we deduct TDS on some payment lets say in Q-1 and duly deposit the return. and then creditor issue an credit not in Q-2 for like any type of discount or can say amendmend in earlier bill then should we reverse the TDS on that amount and whats the treatment of that reversal of TDS in Return Filing. Shoul we have to revise the return of Q-1?
CA VAIBHAV
(Expert)
21 June 2012
If invoice related to first qtr and opposite party not agree with the excess statement then revising I qtr is advisable. called tds file from nsdl and revised and again uploaded
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