tds on advance payment to contractor

14 July 2007

i m facing a situation wherin the rawmaterial supplier pays the advance to jobworker & deduct tds as per sec194c & deposits the same in time.
subsequently due to certain reasons he gets back the raw material un processed also he get back the advance paid.
now what will bw the treatment of tds in books & in the tds return & tds certificate???
whether ts deducted can be reversed?

Shyam Lal Naik (Expert)
15 July 2007
There is no provision of reversal of TDS. You have to issue TDS certificate in the normal way. If the ledger of the job worker shows a debit balance, you may ask the job worker to return the amount.

CA. O.P. Agarwalla (Expert)
20 November 2007
There is no any provision of reversal of TDS deducted and deposited.

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