TDS PAYABLE

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Querist : Anonymous

Querist : Anonymous (Querist)

03 May 2011 Dear Expert

I have been contracted with advertisement company since one year and given them PDC's then i have not deducted the TDS. how can i treat for this.HOw much TDS should i calculate and were it is effect in bank account, P&L account and Balance sheet.

Thx & Rgs

CA Vijay Kumar Gupta

CA Vijay Kumar Gupta (Expert)
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03 May 2011 @1%. Please deposit now for fy 2010-11 alongwith intt.(assuming you are falling with in the defination of contractor/sub contractor and the advertisement company is not a firm/company). If advt. company is firm/company rate of tds is 2%.

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