TDS is not required to be deducted on year end provisions.
3 Replies
Vivek Raju P
(Manager)
(614 Points)
Replied 03 January 2011
TDS is required to be deducted on year end provision for expenses also. The tax thereon deducted has to be deposited on or before 30 April. As a matter the act is clear when it states that TDS is to be deducted even if the credit is made to a suspense account, and provision for expenses is in the nature of a suspense account.
CA Chirag
(Chirag Sheth & Associates)
(1183 Points)
Replied 19 January 2011
whether it is applicable on monthend provision where b/s and p&l are prepared on monthly basis?
Recent Topics
- FORM 10 IEA IN Revised return
- ITC Eligibility on GTA
- Top Highest Tax-Paying Celebrities: FY 2023-24
- Misplace society Bye law
- Submit ommited invoice of previous year
- Need your valueble insight
- GSTR-9 Invoices
- Agricultural Business Loss
- Reporting in gstr9 of ITC of Previous year reverse
- Tax on Reimbursement of House Rent
Related Threads
CAclubindia
