06 March 2009
the queries about the deductor partially bare of tds deducted amount. for example, commission paid to deductee Rs.1,000/- i am deducted 10.3% rs.103/-, out of this amount rs.100/- only to bare by deductee and the balance of rs.3/- bare by deductor.is it possible under the income tax act. suppose it is poosible rs.3/- which head it should booked? kindly clarify the queries.
09 March 2009
Thanks sir, TDS certificate is given to deductee for Rs.103/-, but my query is Rs.3/-bared by deductor, for the reason of rounds up. is this situation the entry is made as Commission a/c dr 1000 TDS payable cr 103 Vijay(Dedcutee)CR 900 Bank charges dr 3
TDS certificate is given by deductor for rs.103/- but rs.3/- is bared by dedctor and the same is treated as expenses. is it correct. kindly clarify the qurries very soon.
CAclubindia
