Tds

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Rudrayani Shedjale

Assistant Accountant

751 Points Joined May 2012

Helo

there is single transaction of advertisement expenses of Rs.11000/- followed by two other transactions of Rs.10000/- each.so total amount becomes 31000/- but that's total amount & not single transaction.do we have to deduct tds @ 2%

if yes then at the time of jv booking of 1st transaction,shall we credit tds?

i.e. exp 11000 dr.

creditor 10780 cr.

tds 220 cr.

pls help....

Replies (1)

Guest

Since the total amount of TDS to be paid does not exceed 75,000 in the whole year.., No need to deduct TDS on it. However whenever you want to deduct TDS it has to be deducted at payment or credit whichever is ealrier..