Jounal entry
This query is : Resolved
ASHISH SHAH
(Querist)
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?
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
(Expert)
22 December 2014
this position is not come.
entry will be
tds profession a/c
to audit fee payable a/c
entry will be
tds profession a/c
to audit fee payable a/c
Amol S Joglekar
(Expert)
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.
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