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Provision - Espense - TDS Challan A.Y.

Income Tax - Started By: - Siva Rama - Dated:- 16-1-2017 Last Replied Date:- 18-1-2017 - Dear sir, Please give your opinion on this. FY 2012-13 AY 2013-14 A company. An year end provision (Mar 31.2013) was kept for Professional fees as per mercantile .....

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AY 2014-15 Professional of company produced bill only on Dec 2013 for same ₹ 100/- Entry passed Outstanding liability (Liability GL) Dr100 Vendor Cr 90 TDS Cr 10 This TDS was paid to Government in next month before due date of 7th jan 2014. Sin .....

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paid duly in FY 2013-14, this expense of ₹ 100 is claimed in AY 2014-15. Assessment by assessing officer for AY 2014-15 Assessing officer is not allowing ₹ 100 in AY 2014-15, because TDS challan is in AY 2014-15 and not AY 2013-14(i.e. As .....

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onal only in Dec 13. TDS is paid in Jan 14 and return is duly filed. Income is booked by Professional in FY 2013-14 (AY 2014-15). TDS is now correctly matching in the 26AS of that professional. If correction statement is filed, mismatch will occur in .....

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sum, where any tax has been deducted in any subsequent year, such sum shall be allowed as deduction in computing the income of the previous year in which such tax has been paid. Regards, Siva - Reply By Ganeshan Kalyani - The Reply = In my view the .....

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ctually the situation is not as simple as mentioned in the question. In the above question, I tried to mention the issue in simple way only.For Service provided every month, the professional charge ₹ 100.He has submitted the bill for Apr 12 - F .....

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ov 13, the professional submiited bill - ₹ 900 (100*9) on Dec 2013.i,e, For Mar 13 ₹ 100 , For Apr 13 - Nov 13 - ₹ 800/-So while booking invoice - Rs 900, entry was passed as Professional fee Dr 800Outstanding Liability Dr 100To Ven .....

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