Tds disallowed

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 May 2014 Sir,

TDS paid for the year is 10 lacks, but the 5 lacks of the above was not reflected in the 26AS, ITO Disallowed the same. In the above 5 L, 3 L worth details are found out,rest permanently lost...What is the accounting treatment of the above?

Rupesh Jain

Rupesh Jain (Expert)
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27 May 2014 R/sir

your question not clear
TDS deposit by you or TDS deducted by party and in your 26AS not showing.

if In your 26AS not showing pls tell this to your party they revised the return .

Querist : Anonymous

Querist : Anonymous (Querist)

30 May 2014 Sir,
TDS Deducted by the party, but they have no details of the same, but the same is not there in my 26AS.

I just want to know how can i treat this in my accounts
Whether i have to reduce the TDS (Current Asset), or Provision or to treat as Bad Debt.?

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