Tag Archives: Advance

Advance received to do job work not to be held as income if wrongly shown as transportation charges in TDS certificate

Facts of the case :- Assessee entered into an agreement with one ‘B’ to do job work for ‘B’ . Under said agreement, ‘B’ provided adjustable advances/deposits of Rs. 34 lakhs to assessee towards cost of plant and machinery and reimbursement for construction of factory shed, etc. . Initially in TDS certificate, ‘B’ showed nature… Read More »