Tds on provisions
This query is : Resolved
08 March 2010
We are required to deduct and remitt tds on the provisions but provisons are made without giving any effect to the party.
For Eg- in case of contracts, where i have not received ant invoice but i eanted to made a provision at the year end as Expenditure A/c Dr to expenses payable A/c Cr. In the given case are we required to deduct tds or not?
If ur answer is yes, To whom i need to give the tds credit?
Thanks in advance
For Eg- in case of contracts, where i have not received ant invoice but i eanted to made a provision at the year end as Expenditure A/c Dr to expenses payable A/c Cr. In the given case are we required to deduct tds or not?
If ur answer is yes, To whom i need to give the tds credit?
Thanks in advance
08 March 2010
For provisions not required to deduct TDS.When you are actually crediting the party that time you can deduct
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