18 September 2016
An invoice raised on 1st March 2016 and the same received on 25th April 2016. The particular invoice has been booked on 30th April 2016. Our books have been closed on 31st Mar 2016. How we will calculate the TDS? TDS liability will be calculated from the invoice date? or from the accounting date? can you explain?
18 September 2016
TDS liability has to be accounted from the accounting date. As per TDS provisions TDS liability arises on payment date or liability creation date which ever is earlier.
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