Liability on whom....for tds on comission.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 November 2012
WEBSITE...HUGE LTD CO.....PAYING OUR DUE AMT....AFTER DEDUCTING THEIR COMISSION.....
NOT ALLOW TO DEDUCT TDS,.......RECD AMT ...AFTER DEDUCTION CO. COMISSION + TRANS CHGS.....AMT IN CRORES IN A YEAR.....WHO WILL RESPONSIBLE.....
IF I PAY FROM MY POCKET.....WILL IT ALOOW AS EXP IN PL....AS WE DO NOT ISSUE CERTIFICATE....AS THEY WILL NOT REFUND US....
WHAT TO DO..?????....BUSINESS CANNOT IGNORE.......
WHO IS RESPONSIBLE FOR TDS ????
IS IT COMPULSORY I PAY TDS AMT ???
NOR ALLOWED BY PARTY....WHO WILL RE-IMBUSED ????
NOT ALLOW TO DEDUCT TDS,.......RECD AMT ...AFTER DEDUCTION CO. COMISSION + TRANS CHGS.....AMT IN CRORES IN A YEAR.....WHO WILL RESPONSIBLE.....
IF I PAY FROM MY POCKET.....WILL IT ALOOW AS EXP IN PL....AS WE DO NOT ISSUE CERTIFICATE....AS THEY WILL NOT REFUND US....
WHAT TO DO..?????....BUSINESS CANNOT IGNORE.......
WHO IS RESPONSIBLE FOR TDS ????
IS IT COMPULSORY I PAY TDS AMT ???
NOR ALLOWED BY PARTY....WHO WILL RE-IMBUSED ????
09 November 2012
If you take Gross Amount to the credit of P&L Account and debit the commission deducted by them, then Sec 40 a(i)(i) will have to be considered.But if you take only the net amount received by you to credit of P&L account, it would be appropriate.At the first instance, the query appeared simple but considering the volume of transaction it is difficult to solve this unless the Huge Business Company also agrees to adhere to the tax regulations or else to change the Agreements/Contracts between you to overcome this ambiguity.
Dhirajlal Rambhia
(Expert)
13 August 2023
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