Credit for TDS - Whether the Tax Deducted at Source (TDS) on ...

Income Tax

January 24, 2024

Credit for TDS - Whether the Tax Deducted at Source (TDS) on mobilization advance, which is a capital receipt, should be credited in the year of deduction - Mobilization advances, characterized as capital receipts and not revenue, are not subject to immediate taxation. - TDS deducted on such advances should be credited in the year of deduction, not necessarily aligned with the year of income recognition. - AT

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Credit for TDS - Whether the Tax Deducted at Source (TDS) on ...

Income Tax

January 24, 2024

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