whether the amount reflected in column 34 of 3CD, regarding interest u/s 201 can be different from the amount claimed in
P/L as interest on TDS... what is the amount in col 34 comprises of
10 Replies
PUSHP KUMAR SAHU
(CA FINAL ASPIRANT)
(3115 Points)
Replied 07 March 2019
the amount which is actually paid u/s 201
SHIVANI KUDTARKAR
(512 Points)
Replied 07 March 2019
thanks for reply...pl clarify further
can the amounts in col 34 and that claimed in p/l as interest on tds be different or should it be same or in case it can differ then which amount can be higher
can the amounts in col 34 and that claimed in p/l as interest on tds be different or should it be same or in case it can differ then which amount can be higher
PUSHP KUMAR SAHU
(CA FINAL ASPIRANT)
(3115 Points)
Replied 07 March 2019
as per accounting principles ...the actual interest charged under section 201 should be booked in p&l account...
PUSHP KUMAR SAHU
(CA FINAL ASPIRANT)
(3115 Points)
Replied 07 March 2019
You can match interest charged u/s 201 by viewing tds returns or by login on traces
SHIVANI KUDTARKAR
(512 Points)
Replied 07 March 2019
if in audit report also, auditor mention the amount u/s 201, then should it tally with amount claimed in p and l
PUSHP KUMAR SAHU
(CA FINAL ASPIRANT)
(3115 Points)
Replied 07 March 2019
yes ...it should be matched....simple...you can only book the amount of expense which actually accrue
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