Tds
This query is : Resolved
28 January 2015
if anybody booked cash payment directly in expense instead of creating ledger of the laborer. then tds on that amount is applicable or not
28 January 2015
which exp are you referring to?
tds is applicable either on cash payment or cheque or book entry whichever is earlier provided it is included in either of sec 192-196D
tds is applicable either on cash payment or cheque or book entry whichever is earlier provided it is included in either of sec 192-196D
Sandeep Dharar
(Expert)
28 January 2015
TDS is attracted on the transaction whether it is in cash or Bank(if it crosses the limit mentioned in respective section).
Hence if u have not entered it separately then the amount will b treated as inclusive of TDS, and u have to pay it from ur own pocket to the Govt.
And if u have deducted TDS on the amount then it is advisable to record it separately
Hence if u have not entered it separately then the amount will b treated as inclusive of TDS, and u have to pay it from ur own pocket to the Govt.
And if u have deducted TDS on the amount then it is advisable to record it separately
Rupesh Jain
(Expert)
28 January 2015
tds will apply if you make payment exceeds of the limit u/.s 194C it is not diff. you book direct exp or through party a/c
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