booking of bill for tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 April 2016 Dear all,
Plz clarify my doubt... assume i have receipt bill on 15/1/2016 and bill date
is 25/12/2015.. plz tell me on which date i will book this bill for TDS deduction
Weather 25/12/2015 or on 15/1/2016.. if on
15/1/2015 then TDS payment due date will be
7 feb. But assume that if due to any reason
If i couldn't made the TDS payment by its due date then i can even book this after the due date i mean after 7/2/2016...!

Plzz clarify is it correct...

Regard
Gaurav jain

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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02 April 2016 Yes it can be booked after 7/2/2016.

Querist : Anonymous

Querist : Anonymous (Querist)

02 April 2016 Sir if it is correct practice then No will pay the late TDS payment interest according to it....

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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02 April 2016 It is as per rules that is TDS liability arises when payment is made or liability created which ever is earlier.

Querist : Anonymous

Querist : Anonymous (Querist)

02 April 2016 Sir are you sure the bill can be booked on 7/2/2016..if yes

Why many CA believe that the bill should be booked onbill date...

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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02 April 2016 In your query itself bill date and booking date differs. Your bill will be booked on the bill date. For other's bill you can't book on the bill date as the receipt of bill takes time.

Querist : Anonymous

Querist : Anonymous (Querist)

03 April 2016 Sir...does that means if any bill receipt after the TDS due date then the said bill
is to be booked on bill date.. Right.....

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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03 April 2016 It has to be booked on the receipt date or later not on bill date.

Querist : Anonymous

Querist : Anonymous (Querist)

03 April 2016 If bill cannot be booked on bill date
Earlier in your query why yiu have point
Out that your bill will be book on bill date

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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03 April 2016 Your bill means(your invoice) you raise the bill on others. That should be booked on the bill date. The bill you are receiving and making TDS is other's bill.

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