Can We Deduct TDS for Carriage Inward, ELECTRICITY CHARGES, Factory Expenses, Bank Interest Paid, Conveyance, Delivery Charges, Postage & Courier, Tea & Tiffin,, Donation, Partner Salary etc Purpose.
niloy sanyal (account manager) (777 Points)
10 March 2011Can We Deduct TDS for Carriage Inward, ELECTRICITY CHARGES, Factory Expenses, Bank Interest Paid, Conveyance, Delivery Charges, Postage & Courier, Tea & Tiffin,, Donation, Partner Salary etc Purpose.
Pankaj Arora
(Learner)
(3134 Points)
Replied 10 March 2011
You can deduct tds of carriage inward, postage & telegram or courier U/s 194C.
praveen
(Chartered Accountant)
(6971 Points)
Replied 10 March 2011
| Originally posted by : niloy sanyal | ||
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Carriage Inward - equivalent to transportation charges collect PAN or deduct 20% ELECTRICITY CHARGES - no as you will be paying it to the government company , Factory Expenses - nature has to be specified here please, Bank Interest Paid - all banks have specific exemption under the section, Conveyance - will be handled in salary taxation however it will be exempt to the extent they have used for company purpose and with proper bills, Delivery Charges - TDS has to be deducted under 194C, Postage & Courier - probably for courier you can deduct TDS , Tea & Tiffin,, Donation, Partner Salary all are NA |
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