TDS paid on cancelled invoice

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..... TDS paid on cancelled invoice
Query (Issue) Started By: - Subramanian N Dated:- 3-5-2013 Last Reply Date:- 3-5-2013 Accounting - Auditing
Got 2 Replies
Companies Law
A invoice was first a .....

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..... ccounted 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 Reply: Since no payment is made .....

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..... 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 with Customer. In this case Custo .....

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..... mer 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 customer 2. You can also take burden o .....

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..... f refund on your shoulder by claiming the refund of TDS in 26Q in this case Refund will remain in your Financials under current asset
Discussion Forum - Knowledge Sharing .....

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