Tds

This query is : Resolved

manas kumar swain (Querist)
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18 September 2012 at the time of making payment another party has been deduct TDS whether it is require to deduct by such company who shown such expenses as expenses in p&L or not
like
Supra PVT limited & akash PVT LTD
one advertisement has been made in TV channel for both the company of Rs 100000
akash PVT LTD has paid and deduct TDS
and than
Supra PVT limited a/c dr 50000
Advertisement A/c dr 50000
To TDS 2000
To bank 98000
Whather Supra PVT limited need to deduct TDS

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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18 September 2012 In regular practice while making payment on behalf of other person need to deduct the TDS and pay and finally the gross amount will give debit to the party on which you are making payment on behalf. finally the actual expenses booking company will account the TDS and pay the TDS amount to govt and issue tds certificate. because TDS will be checked who is claiming the actual expenses

In your query since you are already deducted the TDS either you can transfer the same to other party or if TDS already paid the proof can be given to them

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