Bhavesh (Accounts) (899 Points)
07 November 2011I want to know in case of Excess TDS paid during the FY 2011-12, is there any provision of getting rebate for the same and what if the qtrly. tds return had been filed, can it be get revised in the Same year. for eg in the month of Sept. 2011 Excess TDS Deducted and paid of 2500/- and Returned had been filed as Qtrly. return can it be get revised and what effect its cause.
Anupam Bajaj
(Student)
(111 Points)
Replied 08 November 2011
Nitin Jogad
(Audit & Assurance)
(52 Points)
Replied 08 November 2011
u can follow Anupam or u can pass a advance payment entry to the vendor in the month of sep 2011 and pass expense entry in the accrual month.
amitmehta_ca
(CA, CMA)
(99 Points)
Replied 08 November 2011
Dear Bhavesh,
I agree with mr nitin that you can show it as advance and can adjust the same in future bills.
Regards
Amit Mehta
DIPESH VASA Helping Hand!!!!!
(CA FINAL )
(441 Points)
Replied 08 November 2011
This is my personal experience while auditing one company i have seen same situation
u can adjust it in the future and show as advance and for this u have to write a letter to the ITO regarding this matter. they will grand you releif
if u dont give letter then u r books might come into check
CAclubindia
