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tds on provision on expenses made on 31.03.2010

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 August 2010 Dear sir,


We have creat a provision on expenses on 31.03.2010.the entry passed

Audit fee Dr 40000
to audit fee payable 40000

Commission Dr 80000
to Commission Payable 80000

Would we deducted tds on these entries or tds deducted on when actual bill come or payment made
the actual bill cone 10.04.2010
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
12 August 2010 TDS to be deducted on 31.03.2010.

The provision is very clear : payment or credit , whichever is earlier, & even a provision creation amounts to credit.
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Shudhanshu Agrawal

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Shudhanshu Agrawal (Expert)
12 August 2010 Agree with the expert. Even if any amount is transferred to suspense A/c then also TDS need to be deducted.
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