TDS
This query is : Resolved
20 January 2011
hhhhhiiiiiiiiii........ i have a querry related to TDS.
if a company entered a sum of money in
the ledger of "TDS on labour charges" instead of "TDS on professional services" then is their any adverse effect when the company paid tax?
if a company entered a sum of money in
the ledger of "TDS on labour charges" instead of "TDS on professional services" then is their any adverse effect when the company paid tax?
20 January 2011
The nomenclature of account is no material. The actual nature of transaction is important. TDS on labour contract will be at 1% whereas tds on professional services will be 10%. even if you create account TDS on labour charges even then you have to deduct TDS @ 10% as applicable on professional services. It doesnt matter what head TDS is booked.
20 January 2011
k........ waise in the above case TDS ws deductd @ 10% but it ws entered as TDS on labour charges.
21 January 2011
correct said by Ratan and in addition you have to correct your accou8nt also so that they can tally with the challan submitted by you thus no chance for auditor to raise any query
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- 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
- GST ON EXPORT COMMISSION
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
