TDS ON PAYMENTS MADE BY STAFF OUT OF IMPREST

IN A COMPANY A PERSON IS GIVEN REVOLVING FUND FOR SEVERAL EXPENSES. HE HAS INCURRED ON REPAIRING, TRANSPORTATION, CAR HIRING, COURIER ETC. AND THE COMPANY REIMBURSED TIME TO TIME. EXP. ARE SOME TIME BELOW 20000 OR SOME TIME ABOVE 20000 BUT IN TOTALITY PER YEAR PER HEAD WAS MORE THAN 50000. WHETHER THERE IS ANY TDS LIABILITY ON THE COMPANY OR NOT


Attached File : 27 tds.doc downloaded: 150 times
Replies (2)

Dear Anil Sir,

Yes, TDS is required to be deducted wherever the threshold exceeds......

 

 

 

 

Dear anil

it is irrelavent total expenses are below 20000/- and above 20000/- what is relavent is if expenses incurred on transportation and that transportation charges is charged by any one are more parties individually  incurred above 20000/- or Total exp per year above 50000/- it attracts TDS

And similar expenses ie repairing, car hiring and courier charges following above rules

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