Tds
This query is : Open
21 August 2016
We paid our to parties full amount of expenditure as we booked , later at the time of finalisation we paid TDS to department. As a result our creditors showing debit balance, how to close their balance,
Ex: Expenditure:- 80000/-
Paid :- 80000/-
Later TDS deducted and paid :- 16000/- they are not our regular parties.
Even if we book any expenditure is that allowable as expenditure.
Ex: Expenditure:- 80000/-
Paid :- 80000/-
Later TDS deducted and paid :- 16000/- they are not our regular parties.
Even if we book any expenditure is that allowable as expenditure.
22 August 2016
Dear Vivek,
The excess amount paid is recoverable from the party. you cannot claim it as an expense but treat it as unsecured deposit and recover the same from the party. if the party doesn't pay them write off as bad debts after 3 years.
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
- Fixe term employment
- Is any professional CA is here please reply
- Reopen of assessment proceeding
- Foreign lottery ticket bought online from India: legality, tax and consequences
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Experts need help
- Putting a heading on received mail
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- 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
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
