TDS
This query is : Resolved
27 March 2009
Company paid car hire charges to party( for e.g. Mr.X) & deduct TDS @ 2.266%.
company paid advance imprest to its employee & pass the entry :
Advance imprest Dr.
to Cash A/c
& when employee submit the details of Advance imprest then he also submit a bill of Mr. X (for car hire charges), in which he had not deduct TDS.
now will company liable for non deduction of TDS ?
company paid advance imprest to its employee & pass the entry :
Advance imprest Dr.
to Cash A/c
& when employee submit the details of Advance imprest then he also submit a bill of Mr. X (for car hire charges), in which he had not deduct TDS.
now will company liable for non deduction of TDS ?
27 March 2009
Employee is making payment for and on behalf of Company. Expenditure is debited in the books of account of Company. So responsibility for affecting TDS lies fully on Company.
While disbursing the amount, if the Custodian of Imprest failed to affect TDS, whether or not disciplinary action should be taken is a matter to be decided by Company
While disbursing the amount, if the Custodian of Imprest failed to affect TDS, whether or not disciplinary action should be taken is a matter to be decided by Company
27 March 2009
yes
27 March 2009
Shri
As you told the entry , that i want to chnage i.e.
Advance imprest Dr.
to Cash A/c
Expenses Dr.
To Party Cr,
To TDS Cr.
then your entry i.e.
Party Dr.
To Advance Inprest Cr.
Hope now you are clear.
As you told the entry , that i want to chnage i.e.
Advance imprest Dr.
to Cash A/c
Expenses Dr.
To Party Cr,
To TDS Cr.
then your entry i.e.
Party Dr.
To Advance Inprest Cr.
Hope now you are clear.
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