LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Tds Receivable

akhilesh tiwari (private worker) (238 Points)

22 July 2019

Dear Sir

I have billed 500,000 to a party for fy 18-19 and he has paid me rs 100000 after deducting TDS please suggest how to show it in income tax return now.

Tds deduction- us 194J 10000
Actual deduction should be - 50000

Reply
Follow
Share

4 Replies

Nikhil Bhatia (Article) (309 Points)
Replied 22 July 2019

u should show the actual deduction.
although in ITR, it would be automatically put the balance from 26AS.

akhilesh tiwari (private worker) (238 Points)
Replied 22 July 2019

dear sir please give the example 🙏I m Still a little confused

Suresh Thiyagarajan (Student) (3986 Points)
Replied 23 July 2019

1. TDS is the responsibility of the payer and you cannot do anything if he dint deduct or short deducted.
2. If your income is Rs. 500,000 from profession show the same under the appropriate category and show the amount of TDS deducted as per 26AS.
3. If you prefill the ITR the income and TDS column in ITR will automatically get filled and you can file it directly.
4. There is nothing to worry if the payer has short deducted the TDS as it is his responsibility to deduct the correct amount of TDS.
Please correct me if the above solution has an alternative view.