CA Radhika Sarda (Chartered Accountant) (33 Points)
06 February 2012A client had made payment to labour contractor and on that amount deducted tds.But now he discovers that he made excess payment so issues a debit note for same...so can he reverse the tds entry as well????or what else must be done???
pls reply with provisions of relevant sections!!!
vaibhav
(student)
(253 Points)
Replied 06 February 2012
If payment is made to contractor than it is not required to reverse the TDS amount, however, if it is book entry only than you may reverse(modify) the TDS amount in the tune of expense booked.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
CAclubindia
