14 October 2014
We had deducted and paid tds on advance payment of rent for booking a exhibition hall. The party did not have a pan no. so we have deducted tds at higher rate i.e. 20%. This transaction took place in Jun 14. and we have filed our e-tds return in Jun 14 which included this transaction
Subsequently in Aug 14 The booking was cancelled and the party refund the amount paid by us.(Net of TDS)
Kindly advice how do we adjust this transaction in current or subsequent quarter
CAclubindia
