Jyothis (Article) (1127 Points)
07 April 2016An AMC was booked on April,20,2016 (FY 2016-17) when its bill was available.
However period of AMC starts from Jan 2016 (FY 2015-16),So a provision was booked after expense was booked in 2016-17,Say on 31.03.2016 - So it is necessary to deduct tds on March when provision was created Or deduction of tds on date of booking is Ok.
Since in some case AMC will be booked on June & similar provision needs to created backwards,so when does the tds liability occurs.
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 07 April 2016
yes, the date of booking or date of payment, whichever comes 1st is to be accounted for TDS purpose
hrishi rathi
(Article Assistant)
(31 Points)
Replied 07 April 2016
TDS Shoul be deducted Credit Or payment w.e is earlier.
if you have booked provision for such expense ..you are liable to deduct TDS on the same.
CA rahul
(BCOM(H) ACA)
(725 Points)
Replied 08 April 2016
Dear Member
In the above case if the vendor is charging service tax and bill is received in april 2016 , but provison made in 15-16 then what is way to book cenvat credit of service tax on the same.
Regards
Rahul
CAclubindia
