In one of the Companies i am auditing, they have shown Salary of Rs. 24,00,000 payable to X,Y,Z,A for the whole year.
Is this justifiable? I mean, will not it be a point for Scrutiny.
The Company has not paid a single penny to this people, but deducted tax and paid regularly.
Is this JustifiABLE? PLEASE HELP ME
As TDS is Deducted it is justifiable, But this can be a valid point for a scrutiny.
Regards
Ram.
they have to transfer the sum from salary payable to unsecured loan
i.e they have to show the salary paid and loan received from such persons for the amount unpaid.
But Sir, It is mentioned that TDS have been deducted & deposited in the Sec 192. If we transfer to unsecured loan this TDS might be a problem.
Thanks & Regards
Ram.
Jawahar and Associates Chartered Accountants
Hyderabad
CA Inter
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Gowra Ventures Pvt Ltd
Hyderabad
CA
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