banner_ad

TDS on provision and actual bill

This query is : Resolved 
Profile Image

Profile Image

(Querist)
09 July 2009 have one query and unable to get solution for same

Here, on basis of prov, we deduct TDS for a particular vendor. E.g for A, ( fy 0809) on prov amount we deducted Rs 5000 as TDS amount and issued him certificate of 5000

We receive bill from him in next FY, wherein we realize that tds on actual bill amount will be only rs 4000. So in fy 09-10, we adjust rs 1000 tds, ( diff of tds on prov and actual bill) , during payment in 09-10. Is this correct ?



e.g for FY 09-10, I have to deduct tds actually 10,000, but since I had deducted excess 1000, I will deduct only 9000 . is this correct?

Pl provide solution for same along with accng entries. Also pl mention for what is best practice that needs to be followed
Profile Image

CA Nitin Wadhwani

Profile Image

CA Nitin Wadhwani (Expert)
09 July 2009 Since it pertains to two different financial years you will deduct tax of 10,000/- only for the next bill.
Profile Image

AJK

Profile Image

AJK (Querist)
09 July 2009 Yes thats true, how i am going to adjust for excess 1000 that has been deducted already ?
Profile Image

CA Nitin Wadhwani

Profile Image

CA Nitin Wadhwani (Expert)
09 July 2009 You must have paid to the central govt. treasury, if not pay it.
The deductee would get the benefit of tax paid.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
02 May 2026
Experience Audit Manager

AGGARWAL SAMIR & CO

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details