Before change in rent agreement we were receiving rent cheque in company's name. But after change in rent agreement rent should come in personal name.
By oversight party has given cheque of company's name & TDS had been deducted & also TDS return has been filed by party.
Now what shall be the accounting entry & also inform about TDS deduction effect in point of view of Income Tax.
If u want the TDS to be in your name you should contact the person deducting tax and ask him to revise the return and file the return in your name
You can see whether this has been done by logging into www.incometaxindiaefiling.gov.in
You can see the TDS credit in your name under Form 26AS
If you log using the company's ID you will see the TDS credit as reversed
CAclubindia
