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Can be deduct Tds on Staff welfare expenses?
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Answer / m.amaan
YES,WE CAN DEDUCT TDS ON STAFF WELFARE EXPENSES
ALL THE WELFARE EXPENSES INCURRED ON STAFF ARE CONSIDERED
TO BE THE INCOME OF THE STAFF.FOR Eg:MEDICAL EXP REIMBURED
TO A PARTICULAR PERSONNEL IS CONSIDERED TO BE HIS INCOME &
IF IT EXCEEDS THE THRESHOLD LIMIT,TDS WILL BE DEDUCTED &
THE FOLLOWING ENTRY WILL BE PASSED"
STAFF WELFARE EXPENSES A/C DR 20000
TO TDS/EMPLOYEES INCOME TAX RECOVERY 2000
TO CASH/BANK 18000
(BEING MEDICAL EXP PAID TO MR.X RS.20000-2000 TDS=18000 NET
PAID AS PER MEDICAL BILLS ATTACHED)
| Is This Answer Correct ? | 12 Yes | 4 No |
Answer / falguni
please give me reason for not deduct TDS on staff welfare
expenses
| Is This Answer Correct ? | 6 Yes | 2 No |
Answer / swamy
suppose, if the accident happened during work/job, company
incurred entire hospital and other related expenses of
employee for that accident. Expenses debited to staff
welfare a/c.Is it income of employee need to deduct TDS?
In my opinion if the company paid any amount as staff
welfare in the form of direct payment, it is income of the
employee, then only tds need to be deducted.
| Is This Answer Correct ? | 1 Yes | 4 No |
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