When we pay TDS on Income other than Salary, I see we have something called ' Amount to be allowed as credit during the year'?
What exactly does it mean?
Sourabh Sharma
(CS CA (Final) M.com NCFM Derivative Capital Market Mutual Funds)
(771 Points)
Replied 31 July 2009
Generally, Its the total amount that has been deducted as TDS in the year.
Dr. Jones
(Director)
(253 Points)
Replied 31 July 2009
That is correct. But why is it called 'Credit' amount?
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