Respected Members,
Very Very Urgent !!!!!! Really I need your help !!!!! Really !!!!!!!!!!!
Case History:
Actually My client is a salaried employee ( supervisor ) of a Limited company , during the f.y 2012-2013, he earned actual salary of Rs. 3,45,872/= & the compny actually deducted TDS u/s 192 ( after consideration of Chapter VIA ) of Rs 10,718/= ,
But
as far as books of accounts is concern , the company reflected as " LABOR CHARGES PAID " of Rs 10,71,800/= ( i.e, TDS u/s 194C --> 10,71,800 *10% = 10,718/= as per 26AS ) in their books of a/c & also debited in their P&L A/c for the above matter and
because of that, the company actually paid of Rs 3,45,872/= & balance amount of Rs 7,25,928/= ( approx )( RS 10,71,800-3,45,872 ) given through CHEQUES ( into various parts ) and subsequently , my client en-cash that cheques and given back the whole amount ( i.e, 7,25,928/= ) to the company as Company wants to show additional expenses in their books of accounts .
So, the company debited of Rs 10,71,800/= ( but actually paid rs 3,45,872/= )..
& my client got full amount of refund of Rs 10,718/= ( through ITR-4 , u/s 194C ) irrespective of a salaried employee.
Question:
As far as company's point of view , which one --> more secure for coming year ???
1) Payment of Rs 7,25,928/= through various cheques ?
or
2) Payment of Rs 7,25,928/= through various Cash ?
Pls response as early as possible..
Thanks..
CAclubindia
