TDS recoveries
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 December 2009
TDS on commission was deducted in March and paid to Govt. acount in April and Form 16 issued mentioned the deductions. If it is not shown in Balance Sheet as liabilities as on 31.3. can this amount credited to govt. account in april be shown as expenditure incurred in the next year since online payment is made from bank account. If it cannot be shown then what is the rule and and what should be done. kindly give guidance
31 December 2009
not a good idea, pass entries in april by debiting tds paid to creditors accounts. although not fulproof
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