TDS ISSUE ON LABOUR JOB BILLS

[SUNDARARAJAN NATANMAI]

FROM 01.07.2014 TO 31.12.2014 IN LABOUR JOB BILL PARTY HAVE BILLED MORE AMOUNT AND WE HAVE DEDUCTED TDS AND DEPOSITED IN ABOVE PERIOD. FROM 01.01.2015 WE HAVE RAISED DEBIT NOTE TO PARTY. FROM 01.01.2015 ONWARD LABOUR JOB BILL AMOUNT TDS AMOUNT HAS BEEN ADJUSTED WITH 4TH QUARTER PERIOD. IT IS OK.

AI Summary

TDS Adjustment on Labor Job Bills Permissible for July-Dec 2014 with Debit Note in 2015, Says Respondent. A query was raised regarding the adjustment of Tax Deducted at Source (TDS) on labor job bills. Between July 1, 2014, and December 31, 2014, a party was billed a higher amount, and TDS was deducted and deposited during this period. From January 1, 2015, a debit note was issued, and the TDS amount was adjusted in the fourth quarter. A respondent confirmed that this adjustment is permissible.