Tds deduct on brokerage
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 May 2012
my question is in a case we deduct tds on brokerage and file tds return also but in books brokerage has not been booked ,amount direct entered in broker name is it correct
Guest
Guest
(Expert)
12 May 2012
broker name is personal accnt. now trf it to expense account
expense ac Dr xx
to broker ac xx
expense ac Dr xx
to broker ac xx
12 May 2012
agree with above.. because if u not passed that entry u not able to claim as expenses..because brokerage paid is expenses of ur firm. so pass above entry for effect given in P&L a/c.
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