glidor@gmail.com
21068 Points
Joined January 2010
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Originally posted by : Deepak Tapse |
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Can we pass the following entries wihout deducting the TDS in books
Brokerage A/c Dr
To Brokerage Payable
And TDS will deduct in the month of Marach partywise.
Thanks |
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you can defer the tds till march with simple trick, if TDS amounts are little and not of regular nature,
make advance payment to the receipent in rounded off to 100 and finalize the account in march with taking advance in consideration and making TDS payment. coz unless u account the amount to commission or brokerage, TDS payment does not arise, but u can keep the amount {round up only) in advances and adjust in march .
as the above trick works only for not regular TDS, if u pay exact amount and no cash/bank transaction takes place for the head while TDS is payable, then it would account for evasion.