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Tds u/s 194c

CA,CS Mehul Bhanawat (Job) (204 Points)

10 July 2012

Q. If a manufacturer make book expense Relating to Business & promotion which amounting Rs 56000.

is their any requirement to deduct TDS u/s 194c as single exp is more than 30000..

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4 Replies

CA Vishal Jain (Chartered Accountant) (137 Points)
Replied 10 July 2012

it will depend on nature of expenses, if it is covered u/s 194C than TDS have to be deducted. There is no specific inclusion of business promotion u/s 194C.

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CA,CS Mehul Bhanawat (Job) (204 Points)
Replied 27 July 2012

There is any liability of tds on provison made for expense which is uncertain

Santosh V. Thakur (Sr. Accountant) (187 Points)
Replied 30 July 2012

As per my view No tds liablity on provision of expenses, u can pass provision for expenses entry only.

TDS should be deducted on booking of bill Or Advance given to party whichever is earlier.

CA,CS Mehul Bhanawat (Job) (204 Points)
Replied 02 August 2012

But during the course of audit of listed company it was noticed that tds liability arise on ascertained provision madde. but not on estimated provision. ....