Cash commission paid under table to get contacts

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2016 Hi,
I m in a problem to account a transaction. The transaction is.
We paid some amount cash to some people to gets the contract for our bussiness revenue.
So please tell me how can records thease transactions

Rupesh Jain

Rupesh Jain (Expert)
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27 June 2016 if your making the making payment in books, then you have maintain the record of theses payment with PAN you are laibile to deduct the tds u/s 194H if limit is cross form as mention now its Rs. 15000/- exceeds in a year the tds will @5%. if you are HUf/indivdual then apply when you are liable to take audit report u/s 44AB for the last year.