Go AD-Free with CAclubindia Pro and get Daily WhatsApp Updates. Subscribe Now!

Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 January 2014 SIR,
WHAT IF TDS NOT DEDUCTED BY US WHILE MAKING THE PAYMENT TO PARTY WE PAID FULL AMOUNT TO PARTY...CAN WE ADJUST IT IN NEXT BILL OR NT..??

THANKS IN ADV..

AVTAR SINGH

AVTAR SINGH (Expert)
Follow

28 January 2014 Deposit the amount of TDS immediately to avoid interest. Debit the party with this amount and recover from next bill. For TDS purpose the liability arose when you made the payment or credited party's account. So don't wait till the next bill and deposit the amount.

Querist : Anonymous

Querist : Anonymous (Querist)

28 January 2014 OK THANKS
BUT SIR CAN WE RECOVER PREVIOUS BILL AMT FROM NEXT BILL OR NT..??

AVTAR SINGH

AVTAR SINGH (Expert)
Follow

28 January 2014 Definitely you can recover. If you are making payment of TDS on behalf of party, you have right to recover from next bill.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok