Non deduction of tds
This query is : Resolved
RUPESH KUMAR
(Querist)
25 September 2015
Dear
Suppose I made a payment of Rs 5000/- which comes under 194j and did not deducted TDS because it was under threshold limit of Rs 30000/. Later i made a payment of rs 28000 to same party and deducted rs 2800 as TDS but forgot to deduct tds of previous payment. Please tell the solution. Yhanks in advance for you solutions
Suppose I made a payment of Rs 5000/- which comes under 194j and did not deducted TDS because it was under threshold limit of Rs 30000/. Later i made a payment of rs 28000 to same party and deducted rs 2800 as TDS but forgot to deduct tds of previous payment. Please tell the solution. Yhanks in advance for you solutions
CA AnKiT BoHrA (AB)
(Expert)
25 September 2015
DEDUCT THE TDS NOW AND PAY IT WITH PENALTY
RUPESH KUMAR
(Querist)
25 September 2015
Thanks Sir but what entry should be passed for the deduction.
CA AnKiT BoHrA (AB)
(Expert)
25 September 2015
Party dr
To TDS payable
At payment
Tds payable dr
To Bank
To TDS payable
At payment
Tds payable dr
To Bank
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