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Adjustment Required?

Ankit Madhogarhia (Pursuing Final) (531 Points)

26 May 2011

If any person had not deducted TDS(Payment of rent) and if we wont to adjust the same in the books then how should we adjust?

Regads,

Ankit Kumar

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4 Replies

venkateswarlu. (CA Final ) (118 Points)
Replied 26 May 2011

Suppose if it is Vehicle Hire Charges (if it is a Construction Industry) we can adjust the TDS in the next month or Year Hire Chrges of Same Party. If it is Rent it can be Adjusted in the Next month rent. if it is a march Month Rent, we have to t pay the March month Rent By 30 th May (Sec 200 (1)). Otherwise it ls a Violations of IT Act.

CA Ravish Trivedi (The Possibilities are Infinite...) (772 Points)
Replied 26 May 2011

Tds can be deducted any time & u need to pay interest for delay in deduction. If u wl deduct after return due date then it wl be allowed in the year of payment.

Sandeep Pandey (CA FINAL) (1306 Points)
Replied 26 May 2011

Originally posted by : Raveesh
	Tds can be deducted any time & u need to pay interest for delay in deduction. If u wl deduct after return due date then it wl be allowed in the year of payment.