VAT RETURN

This query is : Open

CA Deepali Jain (Querist)
Follow

06 July 2009 on 30th June 09 I have passed following Entry-

Professiona Charges A/c Dr. 20000
To Exp. Payable A/c 20000

On 1st July 09 I have passed following Entry-

Exp. Payble a/c Dr. 20000
To Professional Charges 20000

On 15th July I have passed following entry-

Professional Charges A/c Dr. 20000

To Cash/Bank/Party 20000

Kindly confirm me at which time I have to deduct TDS on 30th June or 15th July.

Thanks

subhash sharma

subhash sharma (Querist)
Follow

06 July 2009 ONE OF MY CLIENT IN NOIDA GOT HIS REGISTRATION OF VAT IN APRIL 2008.

AFTER OBTAINING REGISTRATION HE DID NOT FILE HIS VAT RETURN.

NOW HE HAS TO PURCHASE SOME MACHINES FROM INTERSTATE HE NEED FORM 38 ( IT LIKE A PEMIT TO GET GOODS ENTD FROM OTHER STATE).

WHAT SHOULD WE DO NOW.

SHOULD WE FILE ALL THE RETURN NOW.

IF I FILE ALL THE RETURN NOW WHAT WILL HAPPEN.

Ratan Sharma

Ratan Sharma (Expert)
Follow

06 July 2009 Hi,
You have to deduct the tax on 30th june.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
Follow

06 July 2009 Hi,

Tds is to be deducted payment or credit of bill party whichever is earlier. Now you have to deduct TDS on 30th June. and You have to pay professional charges by following entry :
Expense payable Dr.20000
to Cash 20000/-
You need not to reverse expenses payable and then paid direct expenses.
It is better to pay expense through expenses payable.

Praveen Sharma

Praveen Sharma (Expert)
Follow

06 July 2009 Deduct TDS on 30.06... bcoz tds is deducted on credit or payment whichever is earlier & the said tds is to be deposited on or before 07.07...