TDS on Professional Fees

This query is : Resolved 

21 May 2011

Dear Members,

I am practising CA in Ahmedabad.I have carried out Statutory Bank Branch Audit of Indian Overseas Bank related to F.Y.2010-11 i.e. Ass.Year 2011-12.This assignment was completed on 8.04.2011 & raised My Professional Bill towards Audit Fees of DT.08.04.2011.Subsequently
I got the Payment in May,2011 after deducting TDS along with relevent TDS certificate for Asst. Year 2011-12.As I am maintaining Books on cash basis Hence I booked the Professional Income in Current F.Y. i.e. 2011-12 relevent to Asst.Year 2012-13.

Now query is How can i claim TDS Amount related to Asst Year 2011-12 in our books for the F.Y.2010-11. Even also I cross Verify the same with Form 26AS related to Asst. Year 2011-12 & shown the same in Asst Year 2011-12.

So whether i supposed to claim such TDS amount in Asst Year 2011-12 or 2012-13.
Please confirm with Accounting effects in Books.

Aditya Maheshwari (Expert)
21 May 2011

Claim such TDS amount in Asst Year 2012-13 as per generally followed system of accounting.

Also read section 199. You will get clarity that TDS claim should be backed by income

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