Tds claim as reflected in 26as

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 September 2012 i raised a commisioning,Eraction and installation bill to IOCL in the financial year 2011-12 and accordingly i paid the service tax on accrual basis and also submit the service tax return for the financial year 2011-12, but IOCL deduct TDS on such bill for the Assessment year,2013-14.

Now here my question is, should i include the above mentioned bill in the financial year 2011-12 or 2012-13 as turn over . please give me the best suggestion so that i can avail the TDS as well as comply the service tax return what i had already submited

Amol S Joglekar

Amol S Joglekar (Expert)
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19 September 2012 Service tax return need not be changed. For income tax you need to decide the method of accounting CASH or ACCRUAL. Accordingly you may proceed with recognising the bill in 2011-12 OR 2012-13.

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