Personal Expenses written as company's xpenses
This query is : Resolved
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
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
(Expert)
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.
Since TDS is made and paid , TDS certificate can be issued. TDS wrongly made and paid , can be claimed by deductee.
S.Srinivasaraghavan
(Expert)
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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