TDS RELATED MATTER ON PROVISIONS
This query is : Resolved
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- Reporting in TDS return
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Gst on travel by air for business purposes
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Banking Related Issue
- Residential status of non resident
- ITR-3 File/Error Found
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
