08 March 2010
We are required to deduct and remitt tds on the provisions but provisons are made without giving any effect to the party. For Eg- in case of contracts, where i have not received ant invoice but i eanted to made a provision at the year end as Expenditure A/c Dr to expenses payable A/c Cr. In the given case are we required to deduct tds or not? If ur answer is yes, To whom i need to give the tds credit?
CAclubindia
