TDS

shriniwas (Accountant) (124 Points)

16 March 2011  

Hi 

We are an IT company. We have booked a HUF as creditor in the last year balance sheet (F.Y. 09-10). His Credit balance is rs. 10 lakh  (Actual Bill amount 10 Lakh- TDS 10000/-). Now HUF want to received partial payment in his an other company because he is saying that a HUF can not receive more 1.5 lakh in this  F.Y.  We have deducted and deposited TDS in a/c of HUF Pan No. for Last F.Y. 09-10.

Pls. Advise can we paid to his another company and How we can.

Thanks