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Clsoing of books of a/c

A/c entries 559 views 1 replies

Naveen Chand Khulve

1521 Points Joined November 2008

Hello to all the member.

We have received an invoice in which TDS is applicable for the month of March'10. However bill is not as per the contract with the party and the concerned person is also not at there. Can we make the provision of expense without deducting the expense and same will be consider on receipt of correct bill by reversing the provision.

Please confirm

Thanks in advance

Replies (1)

binod Khandelwal

C.A. Manager(Accounts)

85 Points Joined June 2009

you can make the provision of expenses on 31st March, so that you can get the time of 2 month i.e,31st May for depositing the TDS. Within this 2 month , you can get the correct value of invoice and modify the entry accordingly.