Sumit Rai Bindlish (CHARTERED ACCOUNTANT) (41 Points)
03 May 2008hi
Plz resolve this :
A Ltd. is 100% wholly owned subsidiary co. of B Ltd.
Expenses of Rs. 100000 paid by B Ltd. on behalf of A Ltd. to contractor after deducting TDS.
Accounting System :
Books of A Ltd : Expenses A\c Dr. and Cr. B Ltd
Books of B Ltd : A Ltd. Dr. and Cr. to Contractor and Cr. to TDS Payable
These Expenses are shown in the P&L A\c of A Ltd.
So Plz tell me that who is liable for deducting TDS ( A Ltd. or B Ltd. )
Also tell me Suitable Sections
With Thanks & Regards
ragavendhiran
(audit asst)
(93 Points)
Replied 03 May 2008
Please see under Experty query (solved) - TDS - 194C-Advt. -
Explained as the main contractor liable to deduct tds and participating company not be liable to deduct tds.
sandhya
(accountant)
(27 Points)
Replied 02 February 2009
| Originally posted by :Sumit Rai Bindlish | ||
| " | hi Plz resolve this : A Ltd. is 100% wholly owned subsidiary co. of B Ltd. Expenses of Rs. 100000 paid by B Ltd. on behalf of A Ltd. to contractor after deducting TDS. Accounting System : Books of A Ltd : Expenses A\c Dr. and Cr. B Ltd Books of B Ltd : A Ltd. Dr. and Cr. to Contractor and Cr. to TDS Payable These Expenses are shown in the P&L A\c of A Ltd. So Plz tell me that who is liable for deducting TDS ( A Ltd. or B Ltd. ) Also tell me Suitable Sections With Thanks & Regards |
" |
sandhya
(accountant)
(27 Points)
Replied 02 February 2009
if the tds of B company who is the division of A ltd is paid by C ltd who is subsidiary co. of A ltd so is this accepted by law
pankaj Agarwal
(.)
(51 Points)
Replied 07 February 2009
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
