Advance payment of rs 1,00,00,000/ received by my company with tds deduction of rs 2,00,000/-. Advance shown by company as liability in Balance sheet.
Income booked in next year. IT authority is saying when there is no income from work this year so no tds credit will be allowed this year.
please help me with Act/circular/case laws.
Menu
TDS deducted in advance payment
Replies (1)
You should carry forward your TDS claim for next year in the absence of corresponding income declaration.
These are as per TDS provisions and you have to abide by those.
These are as per TDS provisions and you have to abide by those.
Recent Topics :
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
- GST RATE ON FILM PRODUCTION
- Section 54
- Why are foreign investors suddenly buying Indian s
- TDS ON IMMOVABLE PROPERTY - PURCHASE FROM NRI &
- Query to Tax Garden tax consultant
- Subject: Urgent Assistance Required – TRACES
Related Topics :
CAclubindia
