Tds not deducted on contractor paymetn
This query is : Resolved
jitendra jain
(Querist)
23 October 2013
we paid 1,80,000 to contractor without deducting TDS on it FY 13-14 , I tried to recover that amount from contractor but couldn't recover, and finally we had to deposit tds amount rs. 3600 to govt. from company fund , now my question is which ledger to be debit to deposit entry ?
and it is allowable when compute self assessment tax
and it is allowable when compute self assessment tax
Satish Yogi
(Expert)
23 October 2013
Entry to be made
Contractor Dr. 3600
TDS Payable(Contractor) Cr 3600
TDS Payable(Contractor) Dr.3600
Bank Cr 3600
above treatment is allowable in accounts.
No any query will raeise.
Contractor Dr. 3600
TDS Payable(Contractor) Cr 3600
TDS Payable(Contractor) Dr.3600
Bank Cr 3600
above treatment is allowable in accounts.
No any query will raeise.
Ganeshbabu K
(Expert)
23 October 2013
debit the contractor account and recover from next bill or from him
jitendra jain
(Querist)
23 October 2013
but he is foreign party and there is no chance to recover the TDS amount. what should I do ..
CA UMESH DULAL
(Expert)
23 October 2013
w/o as bad debt
VISHAL SHAH
(Expert)
25 October 2013
If party resident status non resident you are
require to deduct TDs u/s195 not u/s 194c
require to deduct TDs u/s195 not u/s 194c
jitendra jain
(Querist)
30 October 2013
could i show this amount under ledger earlier year tax or prior period exp. instead of write off ????
CA UMESH DULAL
(Expert)
30 October 2013
If you are certain that the sum is not recoverable it should be w/o as bad debt
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
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Capital gains in IT returns
- 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
- 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?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
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
