banner_ad

TDS

This query is : Open 
Profile Image

Profile Image

(Querist)
03 August 2010 A professional firm is liable to tax u/s 44AB if the gross receipts excedd 10lakh RS. M/S ABC is a partnership firm following cash accounting system. The total turnover is 9550000/-. It considers credit on receipt basis i.e it takes the credit of TDS only of those amount which it has received during the year irrespective of the year of income.Whether the accounting system and method followed by the firm is correct????? And whether it has to offer any TDS deducted by the clients in the current year in the sales A/C??? Whether TDS deducted by client of the party should be considered on receipt basis???? Please provide supporting
Profile Image

CA SMR

Profile Image

CA SMR (Expert)
10 August 2010 https://www.caclubindia.com/books/tax_audit_guide/Chapter_3.asp

Yes,they can follow cash accounting system & TDS deducted by the client can be taken on receipt basis.However further expert opinion is solicited.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

Delhi

CA Inter

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details