TDS entries in books
This query is : Resolved
25 April 2010
Situation is like this
amount was paid to party without deducting TDS. later out of hand TDS was paid thinking can adjust the same in later period and showed the concerned parties as debtors/amt rcvable/asset in the books.
is this right treatment or still dept will disallow the expense?
wat can be done if such portion of tds cudnot be recovered from the concerned parties? u cant show the same as bad debt or discount or any such and charge it against revenue.
amount was paid to party without deducting TDS. later out of hand TDS was paid thinking can adjust the same in later period and showed the concerned parties as debtors/amt rcvable/asset in the books.
is this right treatment or still dept will disallow the expense?
wat can be done if such portion of tds cudnot be recovered from the concerned parties? u cant show the same as bad debt or discount or any such and charge it against revenue.
25 April 2010
you can intimate to the concern party and debit their a/c. Show as recoverable in B/S. Once you paid the Tds , no disallowance
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