TDS RELATED MATTER ON PROVISIONS
This query is : Resolved
CA Prabhakar Dubey
(Querist)
23 April 2008
RESPECTED SIR/ MADAM,
AS PER AS-29, WE HAVE TO MAKE THE PROVISION FOR THE ITEMS WHERE POSSIBILITY OF OCCURANCE " MORE LIKELY THAN NOT".
IN THIS CASE, WE KNOWS THE PROBALITY OF OCCURANCE OF THE ANY OF THE EXPENSES DURING THE PERIOD OF REVIEW.
IN THIS CASE SOME OF THE EXPECTED EXPENSES FALL IN THE AREA WHERE TDS SHOULD BE DEDUCTED ON THE SAME, HOWEVER THE BILL WOULD NOT YET COME.
HENCE I WANT TO KNOW THAT WHETHER WE HAVE TO DEDUCT THE TDS AT THE TIME OF PROVISION OR AT THE TIME OF RECEIVING THE BILL FOR THE SAME.
PLEASE REPLY IT AS SOON AS POSSIBLE.
REGARDS,
PRABHAKAR
AS PER AS-29, WE HAVE TO MAKE THE PROVISION FOR THE ITEMS WHERE POSSIBILITY OF OCCURANCE " MORE LIKELY THAN NOT".
IN THIS CASE, WE KNOWS THE PROBALITY OF OCCURANCE OF THE ANY OF THE EXPENSES DURING THE PERIOD OF REVIEW.
IN THIS CASE SOME OF THE EXPECTED EXPENSES FALL IN THE AREA WHERE TDS SHOULD BE DEDUCTED ON THE SAME, HOWEVER THE BILL WOULD NOT YET COME.
HENCE I WANT TO KNOW THAT WHETHER WE HAVE TO DEDUCT THE TDS AT THE TIME OF PROVISION OR AT THE TIME OF RECEIVING THE BILL FOR THE SAME.
PLEASE REPLY IT AS SOON AS POSSIBLE.
REGARDS,
PRABHAKAR
24 April 2008
Considering the practical difficulty, TDS can be deducted at the time of payment
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