Tds on advertisement
This query is : Resolved
18 October 2011
Hi ,
We (sole proprietorship) incurred a advertisement exp of Rs.5,00,000,and have made the payment to the concerned party.but we have not deducted TDS on the same.This is about three months ago.Now can we deduct tds on the payment made.If so,then how and whats the fine on it?
We (sole proprietorship) incurred a advertisement exp of Rs.5,00,000,and have made the payment to the concerned party.but we have not deducted TDS on the same.This is about three months ago.Now can we deduct tds on the payment made.If so,then how and whats the fine on it?
18 October 2011
VINU YOU ARE REQUIRED TO DEDUCT TDS U/S 194C CONTRACT FOR ADVERTISEMENT WHEN PAYMENT IS MADE OR CREDIT IN THE A/C OF PAYEE...WHICHEVER IS EARLIER....YOU CAN DEDUCT TDS NOW IF YOU NOT MADE PAYMENT
18 October 2011
You can raise a debit not to the vendor for the tds amount and the same can be deposited to govt with interest.
18 October 2011
You can deduct TDS now u/s 194C and deposit it to Govt. But if it is the last transaction or only one transaction with the party then u have to pay the TDS from your own pocket and this extra amount will not be allowed as an expense.
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
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR 1: Details for showing Exempt Income
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR 2 Short Term gain & Long term gain
- ITR returnFY25-26
- Short Term Capital gain on shares bought and sold after 2018 onwards
- TDS 194R on GST effected
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- 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
- Tax amount diff in Gstr1 and 3B in tax compare reports
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
