11 August 2010
in 3cd form we have to prepare a schedule u/s 40A(2) for transation between related party now my question is what amount to be shown in shedule gross or net of tds.another question in this regard is if expenses includes service tax than whether to show expenses in schedule including service tax or excluding service tax.
11 August 2010
Full amount of expenses debited to profit & Loss a/c needs to be shown.
So amount shoud be shown gross of TDS and if service tax input is taken then amount excluding service tax to be shown and if debited to P & L A/c service tax including figure to be shown.
The main point is amount debited to P & L to be shown.
CAclubindia
