Claim of tds in a year, Income Tax

[A Dvivedi]

We are doing advertising agency business(hoarding) ,we follow the accounting standards and thus advertising contracts ( Invoices)which extend beyond the financial year are bifurcated and those which relate to the concerned year are recognised as income . But the TDS certificates received are usually for the whole amount and we were claiming the TDS amount as shown in the certificate fully in a year itself. Is it advisable to claim the whole TDS amount in a year itself? (Please advise considering the new ITR- (for eg. scheduleTDS2 column 7 ,page no 20 of ITR -4).)

Posts / Replies

[Surender Gupta]

Generally, tds is linking with the income booked in the accounts. Therefore, the proportinate part of tds is to be claimed where the revenue is booked in more than two year.