Tds on pre incor exp
This query is : Resolved
19 March 2012
Date of Reg aug 2009
pre InCor Exp to professional rs.328000/-
Tan reg on 2010
whenther tds has to be deduct or not
pre InCor Exp to professional rs.328000/-
Tan reg on 2010
whenther tds has to be deduct or not
20 March 2012
This is not a easy question and a very practical Question...
Who Will Deduct TDS on Same as Co. is not incorporated yet ?
But i guess, you are not required to deduct TDS before Incorporation of Co. on Expenses which you are not claiming as Expenditure in P&L A/c... but m not Sure and Query is still open...
Who Will Deduct TDS on Same as Co. is not incorporated yet ?
But i guess, you are not required to deduct TDS before Incorporation of Co. on Expenses which you are not claiming as Expenditure in P&L A/c... but m not Sure and Query is still open...
20 March 2012
A difficult question.I can suggest that promoters can deduct and pay the TDS on behalf of the company as they are the whole and sole till the company is incorporated and they are eligible for reimbursement of the same but as Raghav said even i am not sure.
20 March 2012
i have confirmed that you are not required to Deduct TDS before incorporation as there is no entity which is supposed to deduct TDS
20 March 2012
Raghav can u quote any judgement or a section to support the view
21 March 2012
Piyush, can you quote any section which makes promoter liable to deduct TDS and deposit the same..???
and whose TAN will be used as Co. have no TAN as not incorporated and Promoters might also not have any TAN.
and whose TAN will be used as Co. have no TAN as not incorporated and Promoters might also not have any TAN.
21 March 2012
RAGHAV WHAT IF PROMOTER IS A BODY CORPORATE DONT U THINK THAT TDS SHOULD BE DEDUCTED BY SUCH PROMOTER.CAN U QUOTE A SECTION THAT IN SUCH CASE TDS IS NOT PAYABLE
21 March 2012
Dear Piyush,
whenever govt. have to impose some liability, they have to provide so in act, and if no such thing is provided in act, then we do not have to create liability merely because no sec is there stating not to impose liability.
if u consider the impact of non deduction,
Such expenditure can not be disallowed in the hands of promoter as promoter is not claiming such expenditure,
As such expenditure is not claimed by promoter, he is not liable to deduct TDS
Such expenditure can not be disallowed in the hands of company as well since no default as co. was not in existense..
whenever govt. have to impose some liability, they have to provide so in act, and if no such thing is provided in act, then we do not have to create liability merely because no sec is there stating not to impose liability.
if u consider the impact of non deduction,
Such expenditure can not be disallowed in the hands of promoter as promoter is not claiming such expenditure,
As such expenditure is not claimed by promoter, he is not liable to deduct TDS
Such expenditure can not be disallowed in the hands of company as well since no default as co. was not in existense..
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