Reconciling TDS Credits and Contract Revenue

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....econciling TDS Credits and Contract Revenue<br> Query (Issue) Started By: - Gopalarathnam Muralidharan Dated:- 16-12-2010 Last Reply Date:- 21-6-2011 Income Tax<br>Got 1 Reply<br>Income Tax<br>Ours is....

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.... a construction co. We follow AS7 for recognising the income. Being a construction company, we will receive mobilisation advance and other advances. While giving the advances Party deduct tax and pay ....

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....the balance. At the time of asst. we are asked to reconcile contract receipts with TDS entries for the year. AO wants one to one reconcilation with the contract revenue recognised in Profit and Loss. ....

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....Almost all construction companies will have problem of this kind. How it is being handled Reply By Mukesh Kumar: The Reply: You should furnish the reconciliation statement. With the statement mark th....

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....e amount which was not offered to tax being to be offered during the next year or so?<br> Discussion Forum - Knowledge Sharing ....