https://www.taxtmi.com/forum/issue?id=2498 Construction companies under AS 7 often face mismatches between TDS credits and contract revenue recognised, because mobilisation and other advances attract tax at source while revenue recognition is deferred. Tax authorities may demand a one to one reconciliation between contract receipts in profit and loss and TDS entries for the year. Taxpayers should furnish a detailed reconciliation statement and mark amounts not offered to tax in the current year for offering in a subsequent year. en-us Thu, 16 Dec 2010 16:25:28 +0530 Thu, 23 Jan 2025 15:58:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=2498 Construction companies under AS 7 often face mismatches between TDS credits and contract revenue recognised, because mobilisation and other advances attract tax at source while revenue recognition is deferred. Tax authorities may demand a one to one reconciliation between contract receipts in profit and loss and TDS entries for the year. Taxpayers should furnish a detailed reconciliation statement and mark amounts not offered to tax in the current year for offering in a subsequent year. Discussion-Forum Income Tax Thu, 16 Dec 2010 16:25:28 +0530 https://www.taxtmi.com/forum/issue?id=2498