TDS not Deducted
This query is : Resolved
17 February 2011
Suppose i had not deducted TDS while making payments to my client, but i had paid it in TDS return even it has not deducted no such entries were passed by me!!
Payment entry
Mr.A a/c...Dr 10000
To, Cash/ bank 10000
"I had not deducted TDS on 10000
but a had paid it in TDS Return"
can I debit this excess paid TDS in P& L a/c
if yes what entries i need to pass????
Payment entry
Mr.A a/c...Dr 10000
To, Cash/ bank 10000
"I had not deducted TDS on 10000
but a had paid it in TDS Return"
can I debit this excess paid TDS in P& L a/c
if yes what entries i need to pass????
17 February 2011
you debit the client account and recieve from him.
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17 February 2011
But if he is not paying then...
because mistake is from my side.. that i had not deducted it
because mistake is from my side.. that i had not deducted it
17 February 2011
But since you have already showed the party details (deductee details) in your etds return, you have no choice but to ask the party to pay it back to you.
or lateron you may have to write it off.
or lateron you may have to write it off.
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