Interested to Buy Any Domain ? << Click Here >> for more details...
Can be deduct Tds on Staff welfare expenses?
- 4 Answers
- 28252 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
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 |
Dear Sir, I am working in account department. I want to know, Why service tax rate is change in every type of service. For Example - Rent Bill Service Tax Rate - 10.30% Taxi Bill - Service Tax Rate - 4.12% Why it change
How to calculate the interest on housing loan for an LET OUT PROPERTY?
Hi, I need the clarification in Tax Rate in Karnataka for Frozen foods like Paratha, Briyani, Pasta's Please share the information for me
What is the difference between income year, financial year and FBT year?
10 Answers Accenture, Capital IQ, College School Exams Tests, Genpact,
How much is the VAT in UAE
WHAT IS MEANING OF CENVAT CREDIT & CENVAT AVAIL
Dear sir i am a contractor and making a invoice for Rs. 1500000= in which 1200000 for material and 300000 for labour charges how should i make a invoice with material and what will for format of invoice, if i make separate invoice for material and separate for labour charges what service tax and sales tax chaeges will be. and what TDS will party deduct on my bill. pls answer as soon as possible.
OUR CO. ACCEPT SODEXO COUPONS FORM CUSTOMERS; WHEN WE SUBMIT COUPONS FOR REIMBURSEMENT TO SODEXO THEY DEDUCT SERVICE CHGS AND S. TAX AND PAY BALANCE AMOUNT, DOSE IT ATTRACT TDS?
what is meant by dearness allowance?
can we take coloing stock in T.P.and is it dr.balance or cr.balance
Sir, in CEntral excise we need to pay some amt with interest ex.13815 amt for 66 days how to calcualte this?
difference between tax invoice and retail invoice
Audit 
