Tds
This query is : Resolved
appala naidu
(Querist)
25 August 2011
Dear sir,
we are civil contractors, FY2010-11 we forgot TDS Deduction from our sub contractors and till we not paid their amount. can we pay the tds now? what is the process.and what is the account treatment now
we are civil contractors, FY2010-11 we forgot TDS Deduction from our sub contractors and till we not paid their amount. can we pay the tds now? what is the process.and what is the account treatment now
Kumar Babu.G
(Expert)
25 August 2011
U can pay by preparing challan for entire amount including interest.U have to reduce payable amount to Sub Contractors by passing below entry....................
Sub Contractors a/c Dr
To TDS Payable a/c
Sub Contractors a/c Dr
To TDS Payable a/c
Message likes :
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CMA Ramesh Krishnan
(Expert)
25 August 2011
Interest will apply on delay payment of interest @ 1.50% per month or part of the month
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