Pravin Prajapat (C.A. Final Student) (136 Points)
26 September 2012If the Person was deducting TDS as per the rules in the few earlier year & In the Just Preceding Year He had discontinuing Business, and he have started the same business in the Current year . so Plz Reply whether he is lible to deduct TDS or not in the C.Y. ?
Is there any rule that once TDS Deduction liability applicable then it will be Contineud in Every Subsequent year ?
Plz Reply ....
CA. Subhash Dangi
(Chartered Accountant)
(1784 Points)
Replied 26 September 2012
As long as business exists or continues, the TDS provisions are applicable. it is immaterial whether the business is discontinued in preceding year and continued in current year.
CA Kunchun Mali
(B. Com.,CA)
(40 Points)
Replied 27 September 2012
sir, can we claim excess TDS paid as an expense . please guide me regarding its accounting treatment.
CA Manish
(Job)
(5264 Points)
Replied 27 September 2012
No, excess TDS paid cannot be claimed as an expense under Income Tax Act.
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