Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2014 sir i have tds receivable in balnnce sheet last 4 years
sir please tell me that how i adjust tds in current year or how to remove tds in balance sheet

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

18 September 2014 is it co or firm or prop business/

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

18 September 2014 what happened to the assessment? TDS receivable should have been adjusted against the tax dues for the year once the assessment was finalised.

Upgrade to CAclubindia Pro. Subscribe Now!

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

18 September 2014 if entity is non corporate then wont be adjust against any provision

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

18 September 2014 why? even non-corporate assessee has the option of maintaining provisions. I didn't know if non-corporates are barred from doing so.

and where you say that they are not following provision system, TDS credit will automatically be adjusted at the time of filing tax return. So no point will rise for carrying it forward for years.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

19 September 2014 in case of prop firm it will be adjusted in capital a/c.