TDS and capitalisation
This query is : Resolved
20 February 2008
1)How we will deduct TDS on a composite bill of supply and service : -Where supply and services within bill are not biforcated -Where supply and services within bill are biforcated
2)How will we capitalised Insurance,registration fee and accessories expenses of a new vehicle which are not included in the original bill and the bill date are different.
1)How we will deduct TDS on a composite bill of supply and service : -Where supply and services within bill are not biforcated -Where supply and services within bill are biforcated
2)How will we capitalised Insurance,registration fee and accessories expenses of a new vehicle which are not included in the original bill and the bill date are different.
CA. GOPAL SONIKA
(Expert)
20 February 2008
TDS will be deducted on the total amount (including goods) if the bill is a single bill. But in case bill for goods anf services are different, TDS will be deducted only on the service bill.
20 February 2008
IF THE BILL IS COMPOSITE BILL AND NOT BIFURCATED THAN TDS IS REQUIRED TO BE DEDUCTED ON BILL AMOUNT INCLUSIVE OF BOTH SUPPY AND SERVICE
INSURANCE FOR VECHILE IS PAID FOR A YEAR AND NOT FOR LIFETIME THEREFORE IT IS REVENUE EXPENDITURE AND IS NOT REQD TO BE CAPITALISE.AS FAR AS REGISTRATION EXPENSES ARE CONCERNED IT SHOULD BE CAPITAlISED
INSURANCE FOR VECHILE IS PAID FOR A YEAR AND NOT FOR LIFETIME THEREFORE IT IS REVENUE EXPENDITURE AND IS NOT REQD TO BE CAPITALISE.AS FAR AS REGISTRATION EXPENSES ARE CONCERNED IT SHOULD BE CAPITAlISED
jegannath G
(Expert)
20 February 2008
Even if it bifurcated in the bill or not. TDS is to be deducted from the bill amount.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
