TDS

Hello Friends ..... we raised invoice to "X" Amnt_27,55,721/- but that amount received from "Y" is there any proble from income tax...side...    Pls....advice

Replies (3)

Confirm from the other side as to in which company is the bill being booked and accordingly change your bill so that there is no problem in Income Tax and moreoverso if confirmation is sent from IT to that party the party confirms the same.

Why there would be any problem?

Simply make an entry,

Bank A/c Dr.

To X

Since you have received that money against that invoice, it won't make any difference. Just treat it as normal receipt. Thats it !

 

Originally posted by : Aditya Maheshwari

Confirm from the other side as to in which company is the bill being booked and accordingly change your bill so that there is no problem in Income Tax and moreoverso if confirmation is sent from IT to that party the party confirms the same.

 

Thnx for u r advice that companies are sisterconcern companies in that that "X" teducted Tds 30K we i think that "X" company issued TDS certificate, and some service tax also is there they take a setoff, and same way we also paid service tax to Govt in the name of "X" but which we have received payment taht only "Y"

 

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