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TDS

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(Querist)
10 June 2010 Sir/Madam,
I have a doubt like when u deduct TDS while making payment to a contractor who has constructed a Civil capital asset i should capitalise the net amount after tds or before tds? I think its before TDS just like we book expense...... Am i right?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
10 June 2010 No,It Should be before deducting TDS which is gross amount need to capitalise
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
10 June 2010 AGREE
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CA Priya

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CA Priya (Querist)
12 June 2010 Sir even i meant the same na.... I.e before TDS....... Anyways thank you soooooooooo much for replying.........
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
12 June 2010 Yes you were absolutely correct.
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