09 October 2008
We have shown the TDS certificates received amounting to rs 4 lacs but we have actually received the certificates of rs. 3 lacs but again in the balance sheet for 07-08 we have shown the tds of rs 4 lacs. so what will be the treatment of difference amount in the next financial year.
13 October 2008
TDS credit is to be allowed in the year in which the income is assessable. In this case, I think you should claim the credit of entire amount of TDS (07-08)deducted from your income of 07-08. Assounting or date of deduction of TDS does not effect the case.
CAclubindia
