TDS Deduction On Provision
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 April 2011
Dear Experts,
while closing book of accounts we have deducted TDs-194C from a bill which was provision for the f.y 10-11. Now due to some fault in billing we have to back reverse provision but not TDS amount because TDs amount has been deposited on due date. now same party is providing bill for the FY 11-12 can we adjust TDs amount of FY.10-11 with the tds liability of FY 11-12.
Thanks
while closing book of accounts we have deducted TDs-194C from a bill which was provision for the f.y 10-11. Now due to some fault in billing we have to back reverse provision but not TDS amount because TDs amount has been deposited on due date. now same party is providing bill for the FY 11-12 can we adjust TDs amount of FY.10-11 with the tds liability of FY 11-12.
Thanks
CA MANOJ GUPTA
(Expert)
30 April 2011
NO WAY U BETTER ISSUE TDS CERTIFICATE OF ENTIRE AMOUNT DEDUCTED
THE PARTY CAN CLAIM REFUND
CA MANOJ GUPTA
JODHPUR
09828510543
THE PARTY CAN CLAIM REFUND
CA MANOJ GUPTA
JODHPUR
09828510543
NITIN SABOO
(Expert)
30 April 2011
its is also suggested to go through circular no. 2/2011 dt. 27/04/2011 which deals with refund of tds amt deposited, however issuing tds certificate is better solution as it doesn't require and further administration complications.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
