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 ?)
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
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- LIC maturity claim whether taxable
- Bank details not Visible on Traces Portal
- Taxability of Partnership firm for FY 2025-26
- EXPORT COMMERCIAL INVOICE HSN CODE
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
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
