Tds
This query is : Resolved
18 November 2011
Hello everyone
I am Sanjay. I am working in PvtLtd Co. My point is :
1. The company has paid the commission to the proerty dealer and deducted tax on it @10%. It also deposited on time. Now the dealer is returning the cheques of commission. My point is that our company comes under the RBI and not able to take deposit from others. After the party returns the cheque then what will be the transaction which I should take in the books of accounts?
2.What about the TDS deposited in the Govt Account. Can I claim refund of it?
Kindly give advise. It is very urgent.
Regards
Sanjay
I am Sanjay. I am working in PvtLtd Co. My point is :
1. The company has paid the commission to the proerty dealer and deducted tax on it @10%. It also deposited on time. Now the dealer is returning the cheques of commission. My point is that our company comes under the RBI and not able to take deposit from others. After the party returns the cheque then what will be the transaction which I should take in the books of accounts?
2.What about the TDS deposited in the Govt Account. Can I claim refund of it?
Kindly give advise. It is very urgent.
Regards
Sanjay
18 November 2011
In my opinion :
1. Commission entry can be reversed.
2. TDS refund can be claimed by showing it as exess TDS paid (through ETDS return)
1. Commission entry can be reversed.
2. TDS refund can be claimed by showing it as exess TDS paid (through ETDS return)
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