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Accounting Treatment

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(Querist)
11 April 2011 HI, plz clarify
expenditure recorded:FY- 2009-2010
(TDS not deducted)
TDS Paid on the above:FY- 2010-2011
as no liability appears in the books for the above. can the amount paid as TDS be debited to rates & taxes account instead of TDS account.

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R.KRISHNARAJ

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R.KRISHNARAJ (Expert)
12 April 2011 In case if you able to collect that amount from respective creditors, debit that amount to respective creditors accounts. otherwise treat them as revenue expenses. but the same will not be allowed under income tax act.
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