banner_ad

WHO IS LIABLE FOR WHAT

This query is : Resolved 
Profile Image

Profile Image

(Querist)
28 November 2007 party 1 has raised a Performa Invoice for Rs. 5,00,000 and then a final bill for the same amount.
Now, Party 2, to whom the bill is raised has paid TDS for both for the Proforma Invoice and the final bill.
So, what are the consequences and how can they be solved.

SERVICE TAX LIABILITY IS ALSO INCLUDED
Profile Image

R.V.RAO

Profile Image

R.V.RAO (Expert)
29 November 2007
IT IS ASSUMED THAT TOTAL TDS OF BOTH PROFORMA INVOICE AND FINAL INVOICE IS DEPOSITED .
PARTY 2 CAN CLAIM TDS CREDIT FOR THE TOTAL AMOUNT ALREADY PAID AGAINST HIS TAX DUES IF ANY TO INCOME TAX DEPT IN HIS RETURN OF INCOME .
IF THRE IS EXCESS TAX PAID AFTER ADUSTING TAX DUES, HE CAN CLAIM REFUND AFTER FILING INCOME TAX RETURN. OR
IF HE IS HAVING MONTHLY /PERIODICAL TDS (TO BE DEPOSITED )LIABILITY IF ANY , THE EXCESS TDS MAY BE ADJUSTED .
R.V.RAO
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
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details