19 March 2015
Sir, I forgot to deduct TDS on the following invoices Rs 67416,481350,22472 and 481350. I have one remaining payment for Invoice Rs 49781.Can I adjust old tds against current payments.
The first three Invoices relates to the F.Y 2013-14 and the invoice of Rs. 49781 relates to the F.Y 2014-15. Please Advice on the following matter.
20 March 2015
IF YOU DEDUCT THE TDS IN 2014-15, THE EXPENSES WILL BE ALLOWED IN THAT YEAR ONLY AND NATURALLY EXPENSES BELONG TO 2013-14 WILL BE DISALLOWED. BEST OPTION, YOU CAN ASK THE SUPPLIER TO FILE FORM NO. 26A FROM HIS CA. IN THAT CASE FOR 2013-14 YOU NEED NOT TO DEDUCT TDS.
CAclubindia
