Tds on provision for expenses
This query is : Resolved
22 August 2011
If we made a provision for expenses on 31st March 2011 without deduction of TDS on professional fee, contractors. And the provision reveresed on 1st April 2011 in subsequent year. Is TDS applicable on provision made.Are the provision are disallowed.
22 August 2011
YES, TDS IS ALSO APPLICABLE ON PROVISION ENTRY.
IF TDS NOT DEDUCTED ON PROVISION ENTRY, SAME WILL BE DISALLOWED
IF TDS NOT DEDUCTED ON PROVISION ENTRY, SAME WILL BE DISALLOWED
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