booking of bill for tds deduction

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 May 2016 Dear seniors,
I had received the invoice Rs. 40000
For security charge on 11/3/2016 however
Invoice date is 27/2/2016... plz guide me
For TDS deduction on which date this bill
Should be booked weather on 27/2/2016 as
Date of invoice or on 11/3/2016 as receipt of bill,

Regard
Vimal yadav

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

06 May 2016 Book it on 11/03/2016 being the date of receipt.

Querist : Anonymous

Querist : Anonymous (Querist)

06 May 2016 Sir plz provide any case law, relevant section
clause for the same..

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

06 May 2016 This is the practice followed if you want it can be booked on 27/02/2016, but interest payable on TDS late deduction. Consult your friends who used to book such invoices to know the practice followed.

Querist : Anonymous

Querist : Anonymous (Querist)

06 May 2016 Sir i am in confussion because some of
My friend CA has advised to book this
Bill on 27/2/2016 and some has advised
To book on 11/3/2016.. therefore it let
Me in confussion plz tell me is there no
Any section clause etc. Which state the
Actual booking procedure concept in this
Regard

Rupesh Jain

Rupesh Jain (Expert)

06 May 2016 you cna book the invoice after you received, and also vendor also take the receiving of bill from you.
as per a/c practice invoice book after the receiving, before that ypu can take only prov. and after receiving the bill you can book bill agst the prov.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

06 May 2016 There is no section or clause it is only the practice. Book it after the receipt date.

Querist : Anonymous

Querist : Anonymous (Querist)

07 May 2016 Sir after the receipt date you mean after
11/3/2016

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

07 May 2016 Yes. In cases of bill of March received in April, for liability creation purpose it will be booked on 31st March.

Querist : Anonymous

Querist : Anonymous (Querist)

07 May 2016 No in my case bill date is 27/2/2016
But bill was received on 11/3/2016,
In this case the said bill will be book
After 11/3/2016