TDS effect in Debit note
This query is : Resolved
Mahesh Jadhav
(Querist)
31 May 2023
Hi,
I have received invoice from vendor in Mar-23 amounting to 53,100/-
Taxable : 45,000/-
IGST : 8,100/-
Total : 53,100/-
We have deducted the TDS @10% amounting to 4,500/-, and now TDS return also has been filed.
But we haven't initiated remaining payment after deduction of TDS.
For some issues in service we want to raise debit note for entire invoice, so what will be the effect of TDS in Debit note.
Should we revised the TDS return or collect TDS amount from vendor ?
I have received invoice from vendor in Mar-23 amounting to 53,100/-
Taxable : 45,000/-
IGST : 8,100/-
Total : 53,100/-
We have deducted the TDS @10% amounting to 4,500/-, and now TDS return also has been filed.
But we haven't initiated remaining payment after deduction of TDS.
For some issues in service we want to raise debit note for entire invoice, so what will be the effect of TDS in Debit note.
Should we revised the TDS return or collect TDS amount from vendor ?
CA Kamlesh Kukreja
(Expert)
31 May 2023
If Vendor is ready to Pay TDS Amount to You there is No Need to Revise TDS Return. But if Vendor Doesnot Agree for refund of TDS Then only way left is to revise Return & use that Challan Towards any other TDS Payment. You can use Challan Paid For A.Y 23-24 in TDS Return of A.Y 24-25
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
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Import Order Cancelled.
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- GSTR-9C filing
- Urd purchase entry in tally prime
- Form 144 TDS Return Validation Error – Mandatory Fields
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- 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
- 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?
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
