TDS payments disclosure in Receipts and Payments account

It is to be shown as Statutory Payments (TDS). This is not to be clubbed with salary cost

Yes... I agreed to Mr CA Kiran Sutrave.,

TDS on salary paid is not a salary cost. It's statutory activities after deducting in Salary amount...

What do you mean by Receipts and Payments Account ?
Are you referring to Trust I/E Account ?
Are you referring to Fund Flow Statement ??
please let know Manish ji

Originally posted by : Kapadia Pravin
	What do you mean by Receipts and Payments Account ? Are you referring to Trust I/E Account ? Are you referring to Fund Flow Statement ??please let know Manish ji

 

Yeah, I was asking about trust's accounts.

I'm in doubt how the nature of entity will affect the disclosure in it?

 

Thank you Kiran and Raja. For that I'll need to separate PF deductions also.

TDS deduction A/c is a Balance Sheet item and has not anything to do with R&P Account or I&E Account.

At the year end, whatever unpaid TDS will be shown as outstanding liability (statutory).

The similar is for PF deduction.

Originally posted by : Kapadia Pravin
	TDS deduction A/c is a Balance Sheet item and has not anything to do with R&P Account or I&E Account.At the year end, whatever unpaid TDS will be shown as outstanding liability (statutory).The similar is for PF deduction.

I was referring the TDS payments during the period. Are these shown separately or with respective expenses payments in R&P?

I didn't ask for TDS liability closing balance.

Yeah... Better to show it separately then We can check it as per percentage of deductions...

TDS deductions , PF deductions are not shown seperately in R&P / I&E Account.

They are mere deductions. Salary is a gross figure being shown under payments.

It is odd and inappropriate to show them seperately as expenditure /payments

They are employees money deducted from their salary for onward payment on their behalf to the Government.

They ( Deductions) are not expenditure ledgers.

Employer's contribution by default are a seperate payments in itself.

Okay

Thanks

👍 ok CA Manish ji

Then what to do

whether TDS should be included in respective payment? Rather than showing seperately?