Sir
We have created Liability for f/y 2014-15 Rs 500000- and TDS deducted @ 1% Rs 5000/- next next year actual bill comes Rs 400000/- can I set off TDS on balance amount in bill related to current year. (i,e. bill for the month of April 2015).
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Adjustment of tds on excess liability
Replies (1)
No you cannot as there is no way you can claim the set off of FY 14/15 with FY 15/16.
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