TDS paid on cancelled invoice

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..... A invoice was first accounted and subseuqently cancelled for some reasons in between TDS paid. Would like to know the Accounting treatment for the TDS paid - Reply By Pradeep Khatri - The Repl .....

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..... y = Since no payment is made then TDS would not be applicable on such transaction. - Reply By Hitesh Shah - The Reply = Commercially you are having two options - 1. Adjust the subsequent payments .....

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..... with Customer. In this case Customer will claim the refund in its Income Tax Return hence the amount receivable will either get reduced from total receivables or it will reflect as advance from custo .....

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..... mer 2. You can also take burden of refund on your shoulder by claiming the refund of TDS in 26Q in this case Refund will remain in your Financials under current asset - TDS paid on cancelled inv .....

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..... oice - Query Started By: - Subramanian N Dated:- 3-5-2013 Accounting - Auditing - Got 2 Replies - Companies Law - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax .....

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..... Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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