Jounal entry

This query is : Resolved

ASHISH SHAH (Querist)
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21 December 2014 I MADE A POVISION FOR AUDIT FEE LAST YEAR BY DEDUCTING TDS? NOW THERE COMES A SITUATION WHEN TDS IS NOT REQUIRED TO BE DEDUCTED? HOW SHALL I PASS JOUNAL ENTRY THIS YEAR?

Ravikant

Ravikant (Expert)
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21 December 2014 TDS was not required to be deducted of earlier year ? or TDS is not required to be deducted for current year ?

Rupesh Jain

Rupesh Jain (Expert)
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22 December 2014 this position is not come.

entry will be

tds profession a/c
to audit fee payable a/c

Amol S Joglekar

Amol S Joglekar (Expert)
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22 December 2014 If you have deducted TDS and paid the same, NO need to do anything. TDS deducted even if NOT required to be deducted as per Income Tax Act, is a valid transaction.