tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 January 2011 i have booked courier invoice by rs.118000/- & deduct tds & deposited. now i have raised debit note for rs.15125/- then how to treat this entry & what will be tds effect.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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21 January 2011 if all the events are pertaining to the same quarter, then you can adjust the excess tds from the next bill within the same quarter.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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21 January 2011 Even if the invoice & TDS pertains to a quarter, while the debit note has been raised in next quarter, this debit note may be adjusted in the next bill & accordingly TDS may be deducted.

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