Entry for.a.payment
This query is : Open
HARIKESAVAN
(Querist)
27 January 2017
We are under renovation. Hence we are making pmt to a interior 1.5 cr, what should be the entry for that (5* hotel)
CA Abhishek Goyal
(Expert)
27 January 2017
1. Building Account Dr...
S.tax Rece (if any) ac dr...
To Vendor Account...
To TDS Payable (appli)
HARIKESAVAN
(Querist)
28 January 2017
Thanks Mr Abhishek . Due to cyclone we got severe damage But we are yet to start the work, even before that we transfered the 1.5 cr to interior , on what ground we can justify rhe payment , is that right?
CA Abhishek Goyal
(Expert)
29 January 2017
As per my understanding, you can justify saying that, provided you have complied with the TDS applicability. In case you have deposited TDS to the govt., you can justify the same.
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