comoanys director deposits TDS from his personal accounts then it will be correct ?
please answer the same
threshold limit 30k ki hai and it's exceeded here November the case
so TDS deductible at 10%
11 Replies
akhilesh tiwari
(private worker)
(240 Points)
Replied 16 May 2019
sir my point is paid TDS of behalf of company
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 16 May 2019
why is he required to deposit from his personal account. who is actually liable to deduct tax
akhilesh tiwari
(private worker)
(240 Points)
Replied 16 May 2019
company liable to pay tax but due to short payment director paid the amount
CA Shikha Sharma
(Ceo)
(3869 Points)
Replied 16 May 2019
it all depends on whether the amount deductible been deposited to government within time
akhilesh tiwari
(private worker)
(240 Points)
Replied 16 May 2019
sir how to show in the books please guide
CA Shikha Sharma
(Ceo)
(3869 Points)
Replied 17 May 2019
TDS deducted as liability being deposit to government
Sarvesh Bubna
(18 Points)
Replied 21 May 2019
The director is not liable to pay TDS on behalf of the company from his personal account. However if he does so, the company shall reimburse him for the same as and when it's cash flow allows it to.
Vivek Palande
(Student)
(60 Points)
Replied 21 May 2019
Just pass Single JV like
TDS on Contractor/ Professional Charges/ Rent etc... Dr
To Dirrectors Loan/ Advance Cr
As Sarvesh said comapny shall reimburse such amt to director
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