TDS Liability in case of Provisional expenses
This query is : Resolved
22 July 2010
I want to know if we have booked exp. on provisional basis whether or not liability to deduct tax arise .pls reply soon.
22 July 2010
If provision is made at the end of the financial year TDS needs to be deducted but in case provision is made for preparation of quarterly or halfyearly balance sheet TDS deduction is not required.
Nirpendra Singh
(Expert)
22 July 2010
Yes
if at the end of the year if any provision is made for exp. than TDS is required to be deducted (subject to applicability of TDS on exp. ).
if at the end of the year if any provision is made for exp. than TDS is required to be deducted (subject to applicability of TDS on exp. ).
22 July 2010
Agreed with experts.
FOr example Provision for Audit fee, TDS will be deducted.
FOr example Provision for Audit fee, TDS will be deducted.
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