can you please guide me on following topic.
(1)Generally TDS deduction shall be made at the time of credit to party a/c or at the time of payment whichever is earler but in few cases TDS shall be made at the time of payment . Plz mention those sections
(2) Where credit has been given to suspense a/c then also TDS shall be paid. Mention those sections
(3) In few case deductor is authorised to adjust TDS considering previous deficiency/excess deduction. Plz mention those sections
Dear varun shah,
Yes, TDS should deduct when bill booked or payment made which ever is earlier. If you make a payment to supplier na that time you know the party name. Then why do you book suspense account? . If deductor paid excess TDS amount , they can utilise that amount for next month or quater.
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
View Details
Shaswat initial support private limited
Ahmedabad
CS
View Details
SSGS and Associates
Chennai
CA Inter
View Details
O P Bagla & Co LLP
New Delhi
CA Inter
View Details
Shyam Joshi & Associates
Pune
B.Com
View Details
CAclubindia
