Hi everyone,
A company has created a provision for Commission payable to directors as on 31/03/2013, in line with accrual basis of accounting. So Should TDS be deucted on such provision entry itself? or should wait for payment of the same as the figure is liable to change because of certain changes that may have to be introduced on the basis of audit querries raised by the auditor?
Also a querry arises over here is after introduction of the new Section 194 J (1a), how to deduct tax on this commsion? Should it be treated on Par with other remuneration being payable to a director, on which TDS is being Deucted as per provisions of Sec. 192 or should it be booked under the newly introduced amendment to Section 194 J?
My view is of booking the same under Sec 192. Need ur opinions regarding the same.
CAclubindia
