Provision entries of expenses
This query is : Resolved
28 August 2024
Dear sir,
Pls clear the concept : Actually : I have to pass provision Account for " Interest paid on late payment of Tds towards month of March 2024 is Paid in 27th July 2024 . Could i take provision of
Interest on late payment of Tds A/c "dr" ,
To Interest payable on late payment of Tds A/c " cr"
on 31st march 2024 or Not .
=> Tds of March 2024 payment date is 30th April 2024, But tax paid on 27 th July 2024
(How may months would be consider for calculation for f.y 2023-24 or fully expenses would be consider in f.y 2024-25 ?)
Pls clear the concept : Actually : I have to pass provision Account for " Interest paid on late payment of Tds towards month of March 2024 is Paid in 27th July 2024 . Could i take provision of
Interest on late payment of Tds A/c "dr" ,
To Interest payable on late payment of Tds A/c " cr"
on 31st march 2024 or Not .
=> Tds of March 2024 payment date is 30th April 2024, But tax paid on 27 th July 2024
(How may months would be consider for calculation for f.y 2023-24 or fully expenses would be consider in f.y 2024-25 ?)
CA R SEETHARAMAN
(Expert)
29 August 2024
Full expenses consider in f.y 2024-25 as due date is April 2024.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
