Provision entries of expenses

This query is : Resolved

sridhar (Querist)
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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 ?)

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 August 2024 Full expenses consider in f.y 2024-25 as due date is April 2024.

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