TDS certificates

This query is : Resolved

Neeraj Paul (Querist)
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09 October 2008 We have shown the TDS certificates received amounting to rs 4 lacs but we have actually received the certificates of rs. 3 lacs but again in the balance sheet for 07-08 we have shown the tds of rs 4 lacs. so what will be the treatment of difference amount in the next financial year.

CA. O.P. Agarwalla

CA. O.P. Agarwalla (Expert)
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13 October 2008 TDS credit is to be allowed in the year in which the income is assessable. In this case, I think you should claim the credit of entire amount of TDS (07-08)deducted from your income of 07-08. Assounting or date of deduction of TDS does not effect the case.

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