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Answer Posted / 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 |
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