Tds payment

Hi to Everybody,

 Pls do clarify me the following,

1) Can a TDS Payment made for Assessment Year 13-14, used for Assessment Year 12-13

2) My C&F Agent raised a Contract Bill on 29-03-12 and sent to be me.But i received the bill on 02-04-12 only.I have transacted this Bill in on Apr'12 and accordingly made deduction and made TDS Payment.when consulted with my CA. I came to know that it should transacted on Bill Date only not on Date Received by you.

 please any one us help me to get a answer.

Thanks/Regards,
Kathirvel.E

 

Your consultant is absolutely correct.

You are supposed to enter the transaction as per bill date and required to deduct tax for A.Y. 2012-13 and not A.Y. 2013-14 along with applicable interest if u have deposited taxes after 30th April 2012.

If u have already deposited taxes mentioning A.Y. 2013-14 then there is nothing to panic.

U just write a letter to TDS department and request them to change the A.Y. from 2013-14 to 2012-13.

This will surely work

Regards

C& F Agent service date is important and not the bill date.If the service belong to A.Y 12-13. then booked the transaction and deducted the TDS in that period.

If u have already deposited taxes mentioning A.Y. 2013-14 then  write a letter to TDS department and request them to change the A.Y. from 2013-14 to 2012-13. After the request is approved revised the TDS return.