Tds
This query is : Resolved
04 January 2013
sir,
if we capitalize labour expenses in building then is it compulsory to deduct TDS ON LABOUR EXPENDITURE??
if we capitalize labour expenses in building then is it compulsory to deduct TDS ON LABOUR EXPENDITURE??
Guest
Guest
(Expert)
04 January 2013
To capitalize or not is an issue from accounting & financial reporting point of view. Taxation shall remain unaffected with the treatment given in books. So TDS shall be deducted & deposited as usual.
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04 January 2013
I do agree with the expert. Tds should be deducted.
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05 January 2013
sir, if we capitalize the amount of labour charges in building
& forgot to deduct tds on labour charges
is disallowance u/s 40 a attracted??
as u/s 40 a
disallowance of expenditure is only respect of income chargeable u/h pgbp
& forgot to deduct tds on labour charges
is disallowance u/s 40 a attracted??
as u/s 40 a
disallowance of expenditure is only respect of income chargeable u/h pgbp
Guest
Guest
(Expert)
05 January 2013
TDS is to be deducted on amount paid / credited irrespective of whether you capitalize the amount or charge it to revenue. The IT Dept is concerned with collection of tax, thats it.
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