Accounting Treatment
This query is : Resolved
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.
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.
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.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reporting Income under Section 44ADA
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- ITR 1: Details for showing Exempt Income
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR returnFY25-26
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
