Tds on year end adhoc provision
This query is : Resolved
30 October 2017
Hi Everyone..
We have made the adhoc provision on mercantile basis for various expenses for the year ending march. No TDS was deducted on such provision being adhoc . Actual bills will be booked in the current year and provisions will be reversed on 1st day of next month .
Please advice whether these adhoc provision will be disallow in computing the taxable income for as no TDS deducted on such a expenditure .
Please advise best option available to overcome TDS penal provison and how to incorporate the same in Tax audit report.
Regards,
Ankit Patel
Mo. No. - 8691908859
We have made the adhoc provision on mercantile basis for various expenses for the year ending march. No TDS was deducted on such provision being adhoc . Actual bills will be booked in the current year and provisions will be reversed on 1st day of next month .
Please advice whether these adhoc provision will be disallow in computing the taxable income for as no TDS deducted on such a expenditure .
Please advise best option available to overcome TDS penal provison and how to incorporate the same in Tax audit report.
Regards,
Ankit Patel
Mo. No. - 8691908859
31 October 2017
All provisions will be added back while calculating income tax so no need of TDS
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