Tds not deducted on contractor paymetn
This query is : Resolved
23 October 2013
we paid 1,80,000 to contractor without deducting TDS on it FY 13-14 , I tried to recover that amount from contractor but couldn't recover, and finally we had to deposit tds amount rs. 3600 to govt. from company fund , now my question is which ledger to be debit to deposit entry ?
and it is allowable when compute self assessment tax
and it is allowable when compute self assessment tax
23 October 2013
Entry to be made
Contractor Dr. 3600
TDS Payable(Contractor) Cr 3600
TDS Payable(Contractor) Dr.3600
Bank Cr 3600
above treatment is allowable in accounts.
No any query will raeise.
Contractor Dr. 3600
TDS Payable(Contractor) Cr 3600
TDS Payable(Contractor) Dr.3600
Bank Cr 3600
above treatment is allowable in accounts.
No any query will raeise.
23 October 2013
debit the contractor account and recover from next bill or from him
23 October 2013
but he is foreign party and there is no chance to recover the TDS amount. what should I do ..
23 October 2013
w/o as bad debt
25 October 2013
If party resident status non resident you are
require to deduct TDs u/s195 not u/s 194c
require to deduct TDs u/s195 not u/s 194c
30 October 2013
could i show this amount under ledger earlier year tax or prior period exp. instead of write off ????
30 October 2013
If you are certain that the sum is not recoverable it should be w/o as bad debt
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