Tds is deducted in next year
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 May 2013
Bills are credited in a Financial Year(2012-2013) (Ref : Sec 194C) but tax deducted on that bills in following year (2013-2014.
What are the procedures to correct this default?
What are the procedures to correct this default?
CA. Naveen Bhat
(Expert)
14 May 2013
As the bills are credited in FY 2012-13 then you have to disallow the same U/s 40a(ia). The same will be allowed in FY 2013-14 when TDS is deducted.
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