Working as a Consultant with a Govt. Organisation. I file my return in ITR4 and show my income after deducting expenses as professional as per Section 44ADA of IT Act. TDS is deducted by the Organisation based on the invoices raised for every month. March paid April methodology was followed till FY 2017-18 while it is now being followed as March paid in March.
I raised an invoice for March 2019 dated as 01.04.2019 and actual amount for March was credited on 04.04.2019. However, TDS deduction for March 2019 has been shown in March 2019 in Form 26AS for FY 2018-19 despite actual payment in April 19. As a result, I am liable to pay tax on amount received for 13 months despite actually receiving it for 12 months in FY.
Can you pls guide on how to seek a solution to this?
CAclubindia
