Tds deduct on brokerage

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 May 2012 my question is in a case we deduct tds on brokerage and file tds return also but in books brokerage has not been booked ,amount direct entered in broker name is it correct

Guest

Guest (Expert)

12 May 2012 broker name is personal accnt. now trf it to expense account

expense ac Dr xx
to broker ac xx

prateek aanchalia

prateek aanchalia (Expert)
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12 May 2012 agree with above.. because if u not passed that entry u not able to claim as expenses..because brokerage paid is expenses of ur firm. so pass above entry for effect given in P&L a/c.

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