Tds on provision for expenses
This query is : Resolved
21 September 2011
entries for tds on provision for expenses:
Expense A/c Dr.
To Provision for Expense
To TDS payable A/c
At the time of payment
TDS payable Dr.
To Bank A/c
Prov. for expenses Dr.
To Bank/Creditors
Please reply if u r still not clear in this context.
Expense A/c Dr.
To Provision for Expense
To TDS payable A/c
At the time of payment
TDS payable Dr.
To Bank A/c
Prov. for expenses Dr.
To Bank/Creditors
Please reply if u r still not clear in this context.
21 September 2011
Hi Rahul, I am looking for the TDS rules on this....
21 September 2011
As per the various Sections governing TDS, TDS is required to be deducted at the time of payment or credit in the books, whichever is earlier.
Accordingly, TDS is required to be deducted while making provision for expenses.
Accordingly, TDS is required to be deducted while making provision for expenses.
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