27 November 2008
Dear Sir we have booked bill in sept-08 and oct-08 without deduction of tds now we are making payment after deducting tds. So please suggest us that will we defaulter or not for tds deduction
27 November 2008
Yes you have defaulted. TDS should be deducted at the time of debitinig the accounts. But you can deduct TDS at the time of payment . In that case it is better to pay interets alos tom govt for delayed period.
27 November 2008
TDS has to be made and remitted to Govt. at the time of payment or book entry whichever is earlier. If book entry it has to be paid within 4 months from the date of book entry.
27 November 2008
Do a simple thing if ur accounting software permits. Delete those transactions and enter them in November and then remit TDS by 7th Dec.
15 October 2010
Good Day and Greeting Mr. Nitin you gave very correct answer but will you clarify what should do in the auditing process of that transaction how auditors will be satisfy if auditor will asked for the supporting document how company will able to proceeds
CAclubindia
