Is tds levy on provisions

This query is : Resolved

SUNIL KUMAR (Querist)
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04 May 2016 Dear Sir,

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

Thanks & regards
Sunil

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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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

Rupesh Jain

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

Rupesh Jain

Rupesh Jain (Expert)
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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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