28 April 2010
Sir, We are made provision for audit fees Rs. 250000/- for the financial year 2009-10 and on dated 31-03-2010 and deposited tds on it and close our books,but we found actual audit amount Rs. 400000/- (and now we are not make any changes in previous book) please sir tell me what is the TDS adjustment entry regarding this.
28 April 2010
As you are saying that you are not allowed to post entry in system. do one thing that in the current financial just book the difference as prior period item and deduct Tax when post the entry and deposit to IT dept.
28 April 2010
BOOK THE REMAINING AMOUNT AFTER DEDUCTION OF TDS IN THE NEXT FINANCIAL YEAR AND SHOW IT AS PRIOR PERIOD EXPENSES. THE REMAINING PART (RS150000/-) WILL BE ALLOWED IN NEXT YAER I.E. YEAR IN WHICH TDS WAS DEDUCTED.
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