query- urgent

this is Audit Bhat, Bangalore in my opinion when you are following cash system of accounting the income should be accounted in the year 2008-09 and you can take the credit of tds for the same year.

In my opinion, assessee should include in the year of receipt.

TDS FOLLOWS  THE INCOME

INCOME FOLLOWS THE ACCOUNTING SYSTEM

Hi Shikha,

As you have said that the assessee is following cash system of accounting and the basic principle of cash system is recognize it as income whentever you receive the cash.  So the cash which is received during the year 08-09 should be recognized as the income of 2008-09.

Regards

RAM

dear

In my opinion ass should make provision by credited and debited TDS amount whenever he recive TDS refund he cain credited as income by debiting such provision