Dear All,
Please let me know, is TDS applicable for Sundry Debtors?
Regards,
12 Replies
FATEMA
(CHARTERED ACCOUNTANT)
(719 Points)
Replied 12 December 2009
TDS is not apllicable to sundry debtors because you are neither crediting them nor paying them. TDS is applicable to sundry creditors
CA Ayush Agarwal
(Kolkata-Pune-Mumbai)
(27186 Points)
Replied 12 December 2009
no , on wat amt. ur asking for TDS. wheather on sale amount......not at all......
Pranita Chawda
(Student)
(107 Points)
Replied 12 December 2009
TDS is deducted by the person making payment, so if ur receiving any payment from ur Debtors thn tht party will pay u after deducting TDS, if TDS is applicable
Amol Gopal Kabra (CA,CS,DISA)
(Practicing CA)
(8539 Points)
Replied 12 December 2009
TDS is not applicable, however TCS is applicable on sundry debtors on certain types of products sold.. Sundry Debtors here means sales. The seller has to collect tax at source and deposit it to government. Refer to the TCS provisions for detailed information.
Kashyap
(student)
(51 Points)
Replied 13 December 2009
The provisions of TDS are applicable for certain kinds of expenses that cross the specified threshold limit. In the case of Sundry Debtors, the transaction is not of the nature of expense. Therefore, TDS is not applicable. The relevant provisions are not applicable even if you are repaying some amount on account of goods rejected by your Debtor. However TDS recievable is applicable in case of Sundry Debtors which can be claimed as a deduction from your tax liability.
But, before claiming deduction please ensure you are not claiming deduction for VAT TDS.
Abhi
(Finance)
(94 Points)
Replied 14 December 2009
Thanks a lot for, all of you, for your answers...........
Abhi
(Finance)
(94 Points)
Replied 14 December 2009
Thanks a lot for, all of you, for your answers...........
NARENDER PAWAR
(CA final Student)
(337 Points)
Replied 17 December 2009
no tds is not applicable in case of sundry debtors
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