Tds on provisions
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 May 2013
Dear Experts,
During the FY 12-13 year closure we have created provision for expenses for Rs 10 Lacs and TDS of Rs 1 Lacs has been deducted by passing the entry
Dr Expenses 10 Lcs
Cr Provision for exp 9 Lacs
Cr TDS us 194 J 1 Lacs.
In the month of Apr'13 also we have not received the invoice copy's.
Now how to make the TDS payment of rs 1 lacs.Can i pay TDS against provisions directly?
Should i wait till i get the bill? what about the Interest and penalties i.e 1.5 % PM etc..
Is there any way out to avoid the interest costs?
Best regards
During the FY 12-13 year closure we have created provision for expenses for Rs 10 Lacs and TDS of Rs 1 Lacs has been deducted by passing the entry
Dr Expenses 10 Lcs
Cr Provision for exp 9 Lacs
Cr TDS us 194 J 1 Lacs.
In the month of Apr'13 also we have not received the invoice copy's.
Now how to make the TDS payment of rs 1 lacs.Can i pay TDS against provisions directly?
Should i wait till i get the bill? what about the Interest and penalties i.e 1.5 % PM etc..
Is there any way out to avoid the interest costs?
Best regards
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 June 2013
Any Reply please..
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