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Querist : Anonymous

Querist : Anonymous (Querist)

14 June 2013 whether TDS paid is debited in the profit & loss a/c is disallowed ? if yes under which sec?

(Actually this firm is not collecting any tds from payment. so tds collected not in their a/c. They just paying Tds to avoid disallowance of expenditure.)

waiting for reply

thanks.

Anil Sankar V

Anil Sankar V (Expert)
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14 June 2013 TDS has to be deducted out of the expenditure incurred,not to be shown in profit and loss a/c

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Ganeshbabu K

Ganeshbabu K (Expert)
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14 June 2013 TDS paid is not expenditure to the company..
Company will deduct from the payments and the same will be paid to the credit of government..

Please refer your accounting entry passed may be incorrect.

Thanks®ards
Ganeshbabu k

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