Tds on provision and actual bill
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 April 2014
Provision for expense is created on 31st Mar, 2014 but actual bill is received for lesser amount. on what amount TDS to be deducted. If TDS paid on actual bill then will there be any disallowance on difference amount, or paying TDS on higher amount is advisable.
29 April 2014
since ur going to adjust the exp a/s it is advisable to deduct on actual amount only.
Nikhil Kaushik
(Expert)
29 April 2014
you need to deduct on the provision amount as at 31 March 2014. what happens post 31 March is not relevant as far as creation of provision and TDS thereon as at 31 March.
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