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Is tds levy on provisions

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(Querist)
04 May 2016 Dear Sir,

Please Help,
Is tds levy on provisions or not please explain and give a example.

Thanks & regards
Sunil
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
04 May 2016 Yes TDS applicable on Provision..!!!
if you do provision of any payable then you have to do entry of provision and deduct tds
Payable a/c dr
to party cr
to tds cr
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Rupesh Jain

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Rupesh Jain (Expert)
05 May 2016 if you paid and credit the account then you have to deduct the tds, which ever is earlier.



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Rupesh Jain

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Rupesh Jain (Expert)
05 May 2016 if you paid OR credit the account then you have to deduct the tds, which ever is earlier.

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