Ashish Modi (CA FINAL STUDENT) (80 Points)
18 March 2011In one of the Companies i am auditing, they have shown Salary of Rs. 24,00,000 payable to X,Y,Z,A for the whole year.
Is this justifiable? I mean, will not it be a point for Scrutiny.
The Company has not paid a single penny to this people, but deducted tax and paid regularly.
Is this JustifiABLE? PLEASE HELP ME
Athmaram
(Articled Assistant)
(170 Points)
Replied 19 March 2011
As TDS is Deducted it is justifiable, But this can be a valid point for a scrutiny.
Regards
Ram.
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 19 March 2011
they have to transfer the sum from salary payable to unsecured loan
i.e they have to show the salary paid and loan received from such persons for the amount unpaid.
Athmaram
(Articled Assistant)
(170 Points)
Replied 19 March 2011
But Sir, It is mentioned that TDS have been deducted & deposited in the Sec 192. If we transfer to unsecured loan this TDS might be a problem.
Thanks & Regards
Ram.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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