TDS o provisional entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 September 2010
Sir,
We have made provision for ocean freight and Agency charges payable to shipping agency on 31-03-2010(Bill are dated April and May 2010). Are we liable to deduct tds on that.
We have made provision for ocean freight and Agency charges payable to shipping agency on 31-03-2010(Bill are dated April and May 2010). Are we liable to deduct tds on that.
06 September 2010
Book the amount and Deduct TDS in financial yaer 10-11.
If your account has been finalsed and you have already booked the expenses the you have to deduct TDS on same in order to claim the expenditure. Further ask the party to give the bill dated in march 2010.
If your account has been finalsed and you have already booked the expenses the you have to deduct TDS on same in order to claim the expenditure. Further ask the party to give the bill dated in march 2010.
06 September 2010
If the expenses is related to last FY then it should be booked during last year only.
Further, since you have made a provision for such expense in the last year so TDS must be deducted in the last year only.
Even if the bill is current dated for services rendered during last year, expense & TDS should be accounted during last year only.
Further, since you have made a provision for such expense in the last year so TDS must be deducted in the last year only.
Even if the bill is current dated for services rendered during last year, expense & TDS should be accounted during last year only.
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
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- Free lancer income
- GST ON DAMAGED GOODS
- Specified Profession
- LTCG for Assmt year 26-27
- Tax liability on income of freelancer
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
