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I have book the commission as a expenses in 31 march 18. but payment not yet paid. I don't pay the tds this expenses allowed or not. if I will pay tds then its allowed????
Replies (5)
Liability u/s 194h to be checked. If it crosses the limit TDS to be deducted otherwise 30% of the exp will be disallowed
Firstly TDS is required to be deducted only if amount of commission is more than Rs.15000/- & you are required to get your accounts audited u/s 44AB.
Secondly if you would not deduct TDs then 30% of expenses disallowed.
sir am ask I must pay tds but my doubt is I have book the commission expenses was 100000 for the fy 17 18. but payment will be made by 15th April 2018 fy 18-19. now tds was payable for fy 17-18 or fy 18-19. and this expenses allowed for fy 17-18?????
Yes correctly stated above and when you pay the tds you can get that 30% disallowed as allowed expenses in the financial year tds is deposited.
thank you for yours reply sirs . that commission amount above 5lak. my query is I want to book the expenses in fy 17-18. but payment will be made on fy 18-19. now tds was payable for which year?
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