Tds treatment
This query is : Resolved
27 September 2011
Tds of Rs. 20000 relating to the asst year 2001-02 has been shown in the balance sheet as on 31.3.2011.
assuming final assessment has been made,but IT department has not refund any amount till the end of 2011 against it,though refund return is submitted
by the assessee.
whather it would be prudent to write off tds amount for asst year 2001-02 in books ?
assuming final assessment has been made,but IT department has not refund any amount till the end of 2011 against it,though refund return is submitted
by the assessee.
whather it would be prudent to write off tds amount for asst year 2001-02 in books ?
CA Pushpendra Gaur
(Expert)
28 September 2011
Yes, you can definately write off the TDS account and also mentioning the reason in Notes to Accounts
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