Accounting Entry
This query is : Resolved
23 January 2009
We have engaged a techinician for the purpose of repairing machinery. He has provided a bill stating labour charges, travelling & fooding seperately. Pls advice how to account in books:- 1.debiting entire amount to repairs & Maint.
2.seperately to the concerned head (if so whether liable for FBT).
On other case expenses of travelling and fooding incurred by us whether attract FBT.
2.seperately to the concerned head (if so whether liable for FBT).
On other case expenses of travelling and fooding incurred by us whether attract FBT.
23 January 2009
Repairing & Maintenance Machinery Dr
To Party/ Techinecian Cr
If Amount is Excedding 20000/= TDS should be deducted Under Sec 194C
To Party/ Techinecian Cr
If Amount is Excedding 20000/= TDS should be deducted Under Sec 194C
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23 January 2009
what if we incure their travelling by paying cash from our cash in hand
23 January 2009
To my knowledge, nature of payment is deciding factor for allocation but not mode of payment
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24 January 2009
Please u consider total item for errecting the Machine, and deducted the TDS.
if u r considering the amount seperately
Then Deduct the TDS on Labour & FBT on Travelling & Food expenses (which u have to pay from ur pocket.
Hence consider all the expenses including labour, spare, and others pocket expenses into repair & maintenance and Deduct TDS, and let the party will claim the TDS
if u r considering the amount seperately
Then Deduct the TDS on Labour & FBT on Travelling & Food expenses (which u have to pay from ur pocket.
Hence consider all the expenses including labour, spare, and others pocket expenses into repair & maintenance and Deduct TDS, and let the party will claim the TDS
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