TDS credit in advance tax calculation: include TDS when deducted; amounts credited without deduction do not reduce advance tax. Taxpayers must include TDS credit when computing their advance tax liability if the estimated tax after TDS meets the applicable threshold; amounts ... Summary
TDS credit in advance tax calculation: include TDS when deducted; amounts credited without deduction do not reduce advance tax.
Taxpayers must include TDS credit when computing their advance tax liability if the estimated tax after TDS meets the applicable threshold; amounts credited or paid by a payer without deduction of tax do not constitute TDS credit and cannot be used to reduce advance tax instalments.
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