TDS Provision
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 May 2010
One of my Client had made provision of Expenditure after deduction of TDS on the expenditure on last day of the previous year. however before paying TDS it has come to the knowledge of the client that the liability is not payable and the expenditure needs to be reversed. Now is it possible reverse TDS along with the expenditure during the current financial year or once TDS provision has been made he has to pay TDS.
CMA.Palani Arumugam
(Expert)
20 May 2010
Since TDS payment is not made, You can reverse the expenses and TDS in the current year. No need to make the TDS payment.
21 May 2010
Not required to pay the TDS. One can reverse the provisional entry
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