TDS

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Dharmendrasinh Zala (Querist)
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05 January 2021 Company A has to pay 1cr to B for their services..
A fails to pay his dues in same financial year.. and B comes to loss in thatt year due to non release of payment.
Now after few months A pays all his dues after deducting tds(@10%).. and files tds return showing transaction date 31st March..
So B is in loss for that year but but have 10lacs as tds in his 26as...

Now to do in such situations?

Gokul Sharma

Gokul Sharma (Expert)
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06 January 2021 non receipt of revenue does not amount to loss.
you should have to book revenue in the year of rendering of service not on receipt basis.