One of our Customer has deducted TDS in our Work contract bill.And the bill was of 09-10 & 10-11. We have received TDS certificate, but we have not taken the credit in the VAT return till date.Please guide weather we can take the credit at the present VAT return i.e in the month of Sep-11. if not what is the procedure to avial the TDS benefit.
23 September 2011
Mr AK Thakur, Regarding the TDS of 2009-10,it is almost lapsed,except when the department call your books for audit you can produce tds certificates,get them accounted and ask for the refund of excess tax paid.For the year 2010-11, there are still chances of accounting the tds certificates by amending the returns of Feb'11 and Mar'11 and the get the excess carried forward till the return for Aug'11,and then continue.You can also take them into acount in the annual submission of audited accounts,show the excess paid and adjust them in subsequent returns. MJK
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