for delay in makes entry in books of a/c
This query is : Resolved
22 December 2009
Sir
I want to ask that if any copany is not entered the bills in due time and he deferred the same for avoidation of interest on Tds what is the consequency about it
I want to ask that if any copany is not entered the bills in due time and he deferred the same for avoidation of interest on Tds what is the consequency about it
22 December 2009
By adopting wrong accounting practices you cannot avoid interest on TDS.
Better pay interest immediately which is not so heavy.
Better pay interest immediately which is not so heavy.
22 December 2009
Its depends upon deduction not in book entry to your company .when you deduct TDS you have to deposit on before next month 7 date.and also file tds return if your fails there is always penalty & interest arrives.
22 December 2009
My question was not about deduction or book entry, company is under leagal obligation to deduct tax at the time of credit or at the time of payment whichever is earlier and deposited the same on or before due date on wich tds are applicable
I am trying to give my query through an example
Suppose a company are receive a bill on dated 10th may from its vender for the month of April but he has not credited the books on same day and he differed the same and credited in month of October and during this period he has not make payment to its vender. Is compay are liable for interest if company are deposit the tds amount on 7th November
I am trying to give my query through an example
Suppose a company are receive a bill on dated 10th may from its vender for the month of April but he has not credited the books on same day and he differed the same and credited in month of October and during this period he has not make payment to its vender. Is compay are liable for interest if company are deposit the tds amount on 7th November
22 December 2009
But company has to follow the accural basis accounting is the fundamental accouting policy, we cannot delay like that
23 December 2009
Sir
Interest should be consider or not? if yes, from which date? if company has credited its only on october which is related to month of april
Interest should be consider or not? if yes, from which date? if company has credited its only on october which is related to month of april
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
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- ITR returnFY25-26
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR validation error - Balance sheet is not filled
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Bank Accounts in Balance Sheet for ITR 3
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- 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
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
