TDS on March Provision
This query is : Resolved
16 September 2010
If I want to make provision for expenses at march ending for various heads & various parties whose amt is not confirmed & who comes under TDS jurisdiction then TDS is appliable on such provision made & if no tax deducted then what to do?
16 September 2010
Ideally.. TDS should have been deducted at the time of making the provision.
If its not deducted, You cannot claim the benefit of such provision of such expenses under Income Tax.
If, your returns have yet filed & if you can deduct the TDS on these provision in March date & pay the same with late payment interest, you can claim the benefit of such expenses.
If its not deducted, You cannot claim the benefit of such provision of such expenses under Income Tax.
If, your returns have yet filed & if you can deduct the TDS on these provision in March date & pay the same with late payment interest, you can claim the benefit of such expenses.
16 September 2010
TDS IS TO BE DEDUCTED AT THE TIME OF CREDIT OF PARTY . IF YOU HAVE NOT DEDUCT THE TDS, THEN SUCH EXPENSE WILL BE DISALLOWED.
HENCE DEDUCTED THE TDS AND DEPOSIT BEFORE FILING OF IT RETURN AND GET DEDUCITON FOR IT.
HENCE DEDUCTED THE TDS AND DEPOSIT BEFORE FILING OF IT RETURN AND GET DEDUCITON FOR IT.
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?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- 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?
Trending Online Classes
CAclubindia
