TDS
This query is : Resolved
Hitendra K. Agrawal
(Querist)
25 June 2010
Issue
A is paying Advertisement expenditure on behalf of B ( Say Sister Concern ), A is also deducting the TDS at time of making payment. Now the issue is whether B is supposed to deduct the TDS while making the payment to A. ( There were no element of Profit )
Support with relevent cicular and section
A is paying Advertisement expenditure on behalf of B ( Say Sister Concern ), A is also deducting the TDS at time of making payment. Now the issue is whether B is supposed to deduct the TDS while making the payment to A. ( There were no element of Profit )
Support with relevent cicular and section
CMA.Palani Arumugam
(Expert)
25 June 2010
Since A is making the payment on bahalf of B, the expenses is not pertaining to A. Hence A need not book the element of TDS. It can just show the net payment by debiting B.
B has to book the expenses and book the TDS entry and pass the JV for payment made by A.
B has to book the expenses and book the TDS entry and pass the JV for payment made by A.
CA Abhishek Jain
(Expert)
25 June 2010
A need to book total expenses by debiting B's A/c....including TDS as an expense.
Then A will do the entry accordingly.
B is not suppose to deduct any TDS while making payment to A because it does not comes under any category on which TDS should be deducted.
Then A will do the entry accordingly.
B is not suppose to deduct any TDS while making payment to A because it does not comes under any category on which TDS should be deducted.
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