G.Mahender (Executive accounts) (73 Points)
02 June 2012Sir,
Excess tds deducted pertaining to the f.y.2011-12, and paid in 2012-13 and filed the Tds return, now the tds payable a/c is showing debit balance(for the excess amt) in this f.y. i.e. 12-13 , what to do with this credit balance, whether it is adjustable to any penalties,interest on tds if any occurs in future?
please clarify this doubt at the earliest.
thanking you,
mahender
ashish gupta
( student)
(1922 Points)
Replied 02 June 2012
how can u have debit balance in tds payable a/c.
I mean even if you have deduced excess amount then you must have debited the party a/c and credited the tds payable a/c.
G.Mahender
(Executive accounts)
(73 Points)
Replied 02 June 2012
ok last year tds payable, paid in current year, for example 100/- tds payable but we paid 110/- the rs.10/- will excess in this f.y.
clarify what to do with this rs.10/- excess pertaining to last yr.
thanking you,
ashish gupta
( student)
(1922 Points)
Replied 02 June 2012
where u shown this excess tds paid in your tds return ?
CAclubindia
