TDS

This query is : Resolved

CA Priya (Querist)
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08 February 2011 Hello Experts.........
I deduct TDS while creating provision for the expenses to be incurred in future and remitted to Govt. Later that transaction does not take place so i ended up in paying from my hand. Now my query is whether i can adjust this amount against the TDS payable???? Kindly clarify........

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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08 February 2011 If the adjustment of the tds paid is done for same category & for same quarter..... its allowed.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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08 February 2011 Even if....the adjustment of the tds paid is done for same category & in the same financial year .... then also its possible.

But if you are asking for this adjustment in 2 different financial year... then the answer is NO.