We have made the adhoc provision on mercantile basis for various expenses for the year ending march. No TDS was deducted on such provision being adhoc . Actual bills will be booked in the current year and provisions will be reversed on 1st day of next month .
Please advice whether these adhoc provision will be disallow in computing the taxable income for as no TDS deducted on such a expenditure .
Please advise best option available to overcome TDS penal provison and how to incorporate the same in Tax audit report.
CAclubindia
