Date of deduction in tds return. (Income Tax)

This query is : Resolved

samson

( Author )
05 July 2012

Please help me to find what is the date of deduction in TDS Return.
whether it is Invoice Date or Date of Payment to party or Date of TDS Deposit.

Siddhartha Bhardwaj

( Expert )
05 July 2012

Date of deduction is date of invoice or date of payment, whichever is earlier.

C.A Anshul Singhal

( Expert )
05 July 2012

YES AGREE WITH SIDDHARTHA

CMA. CS. Sanjay Gupta

( Expert )
05 July 2012

In case date of invoice is say 10th June 2012 and you receive the bill on 15th June 2012 and deduct the TDS and pass the entry in your books on 15th June 2012 the date of deduction will be 15th June 2012.

So the date of deduction is the date of payment or credit whichever is earlier.