No monthly deduction & depositing TDS. Is there any default?
This query is : Resolved
22 January 2011
Dear All,
Our monthly bill on advertisement from a party (Firm) is Rs 20,250/-. We paid on Dec 2010 for 9 months Rs 178605/- (182250-3645) (after dedicating TDS @ 2% at the time payment), also we deposit TDS rs 3645/- in dec. 2010 instant of monthly deduction & deposit. Is there any default?
Our monthly bill on advertisement from a party (Firm) is Rs 20,250/-. We paid on Dec 2010 for 9 months Rs 178605/- (182250-3645) (after dedicating TDS @ 2% at the time payment), also we deposit TDS rs 3645/- in dec. 2010 instant of monthly deduction & deposit. Is there any default?
22 January 2011
TDS has to be deducted on credit of the amount to the suspense account or to the credit of the payee.
The mere fact that bill of nine months is paid in dec will not warrant deduction at that time.
I believe there is a default u/s 194C
The mere fact that bill of nine months is paid in dec will not warrant deduction at that time.
I believe there is a default u/s 194C
22 January 2011
Can I show all the bill of nine month in the month of dec 2010 for non default sec 194C.
22 January 2011
All depends on the condition that when you have debited advertisement exps account. If you have monthly debited the advt. exps then there is a default in TDS but if you have booked the expenses in the month of Dec. 2010 then there is no default of TDS.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Capital gain consideration
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
