sagar
(Chartered Accountant)
(131 Points)
Replied 09 December 2010
Hi, Mr.Pawan Kumar I Din't Understand Why ABC is asking for refund, If Extra tax has been Deducted Its Good Enough to meet their tax liablity ,U better make them Understand this.....
Even then If they ask for refund then U Need to Charge that to P/L A/c By crediting Cash/bank (In My Opinion.....)
CA ESHAN CHAKRAWARTI
(job)
(101 Points)
Replied 31 December 2010
HI MR. PAWAN , U R HAVING ONLY TWO OPTION EITHER TO RETURN 20000 TO ABC OR TO ISSUE CERTIFICATE AT HIGHER AMOUNT .IF U RETURN 20000 THEN IT VL MAKE U IN HAVING LOSS.SO BETTR IT TO MAKE THEM UNDRESTAND THAT THE TDS DEDUCTED CAN B CLAIMED/ADJUSTED IN FUTURE.NONE OF BOTH U WILL BE SUFFERING.
CAclubindia
