TDS RULE

Durga Prasad (Intern at GM Kapadia & co;) (40 Points)

10 July 2017

is TDS to be deducted by those who are under AUDIT or by ALL irrespective of AUDIT please explain with relevant SECTIONS.

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (179966 Points)
Replied 10 July 2017

Individuals/huf......... are liable to deduct TDS under certain sections, provided their accounts had been audited in previous year..

Certain TDS like tds on salary are required to be deducted by all

TDS on House rent above or equal to 50,000/- PM is liable to be deducted by non-audit case assessees........

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Pankaj (accountant) (27 Points)
Replied 10 July 2017

At The Time Rent Amount Receiv

Bank A/c Dr.1350/, TDS receivle A/c Dr. 150/, Debtors A/c Cr. 1500/.

At The Time Rent Amount Payble

Debtors A/c Dr. 1000/. Bank A/c Cr.900/, TDS Payble A/c Cr. 100/

Ten, Please advice me about setoff entry for the same.

Here can i do as below?

TDS Payble A/c Dr.100/ Bank A/c Dr. 50/ To TDS Recevle A/C 150

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