Query on Sec 194J

This query is : Resolved

Guest

Guest (Querist)

08 August 2008 In case of cash basis of Accounting. When TDS is deducted at year end, is it sufficient to consider the amount of TDS as income for that year and the remaining amount the next year OR should we take the actual income and then claim the TDS.

CA Hemant T Dewani

CA Hemant T Dewani (Expert)
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08 August 2008 u/s 194J cassh systems of a/cing are maitain so only tds amount is taken as receipts

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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08 August 2008 Dear Sandhya, I think, you have asked this question earlier too in another way. Earlier my answer was little wrong. But now i am clear. CA Hemant is absolutely correct. If Rs. 10000 is deducted as TDS on Rs 100000/-, then only Rs. 10000 shall be taken as income of that year plus any amount actually recieved out of Rs. 100000. Hope, you will be satisfy now.

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Guest

Guest (Querist)

08 August 2008 Thank you.
I am quite clear now