Tds & expenses booked twicely

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sunitha

service

23 Points Posted on 04 June 2015

Hii.

TDS & Expenses booked twicely in F.Y.14-15. Tds Return is Filed and Balance Sheet also Final. After Reconciliation of Party Ledger we have find the mistakes of Twicely booked. so please guide us sort out this problem. Can reversed this expenses and Tds for the F.Y.2015-16.

Replies (2)

J. K. Ratan

Compliance Advisor

629 Points Posted on 04 June 2015

Dear Ma'am

For TDS :- You can revise your TDS Return for FY 2014-15. If You has already been deposited TDS Amount of duplicate entry than you can utilised that TDS Amount in FY 2015-16.

For Books:- Kindly Reverse the duplicate Entry and consider the same in filing Income Tax Return.

sunitha

service

23 Points Posted on 18 June 2016

Dear Sir,

I have some querry of Partnership Firm. 1] Can we fixed Salary for monthly basis pay to Working Partners ? 2] Any limitation of Remuneration. for eg. if Firm earned profit 30 Lac after deducting Interest on capital. 3] If Firms have a Two Partners, One is Working Partners, can we pay remuneration to working partner only or it compulsory to remuneration disturbute with two partners & profit sharing ration is 75% & wokring partners sharing ratio is 25% . 4] As per I - Tax Rule How much remuneration allowed to partnership firm. Please advice and reply us about my querry.

Thank you,

Sunitha