Hello frnds,
I have a query. In my company there's finalisation of accounts gng on.
One point have been brought to notice that tds have not been deducted and paid for an amount.Now my doubt is that whether any provision for interest payable on TDS is to accounted in books as on 31/03/2012,as the interest is certain to be paid. The TDS will be paid by 07/07/2012.
Please do reply as soon as possible.
Thanks.
CA Hiral N Mehta.
I think it is not necessary to provide interest for late payment.. But still if you want to provide, there is no problem either..
Are you sure??
yes sure..
So it would be ok na if we dont provide for it and there's no liability o/s in books as on 31/03/2012?
ya it would be ok..
kk thnxxx
Even i thought the same and that's why doubt raised.
CAclubindia
