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Personal Expenses written as company's xpenses

This query is : Resolved

mayank (Querist)
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21 February 2008 it is real estate company in it
an case in the name of director is files (personal case) bt the expenses paid by the comapny and TDs is charged. wht will be rectification about this

Late CA Sampat Jain

Late CA Sampat Jain (Expert)
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21 February 2008 Director's personal expensed need to be debited to his account by crediting expense account(which is presumed to have been debited earlier).
Since TDS is made and paid , TDS certificate can be issued. TDS wrongly made and paid , can be claimed by deductee.

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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21 February 2008 It will not be correct to issue TDS. The only way is to apply for refund of tax wrongly deducted.

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