we accounted a bill for repairs & maint building for rs.1250,000/- in f.y. 08-09 as per bill date mentioned in t bill le. 06.02.09. we deducted tds @ 2.266% on same date. We deposited tds on 06.04.09. we paid entire bil amt net of tds in f.y.09-10. we filed etds return for 4th qtr in time.
However civil contractor accounted this bill in f.y. 09-10. IT department issued notice to civil contractor, asked to pay penalty for delay in accounting of incomes.
CA of civil contractor advised us to revised our e tds return by deleting above tds entry. otherwise he will prepare a bond stating that bill rasised on 06.02.09 was estimate bill, his accountant made mistake & mentioned date as 06.02.09 instead of 06.04.09, if we denied to revised e tds return.
Pls advise me what will be the solution for above.
30 December 2010
The revision of TDS return can not be viewed independent of the books of accounts. Since you have booked the expenses in the FY 2008-09, it may not be possible for you to revise your return so as to reflect the transaction in the FY 2009-10.
If the 2nd option is feasible, this should be adopted.
CAclubindia
