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effect of tds on provision of expenses
What shall be the effect of the tds on provision of expenses account and their accounting treatment
Replies (2)
tds needs to be made at the time of credit or payment whichever is earlier.
So when you are making provision credit is earlier. so tds needs to be made at the specified rates as per the nature of expense
so while booking exp full amount shud be debited to expense then credit tds and balance shud be shown as payable to party
So when you are making provision credit is earlier. so tds needs to be made at the specified rates as per the nature of expense
so while booking exp full amount shud be debited to expense then credit tds and balance shud be shown as payable to party
No... If Provision then TDS not applicable.
Bcoz, The service (as provision) will be given to anybody. So, TDS deduct / applicable at the time of service or payments which is earlier...
Bcoz, The service (as provision) will be given to anybody. So, TDS deduct / applicable at the time of service or payments which is earlier...
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