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Accounting on tds provisons

This query is : Resolved 
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(Querist)
09 April 2016 Dear Experts,

Pls. let me understand below doubt.

We have made payment for Freight Charges Rs. 1,00,000. Invoice date : 05-04-2016. But this expenditure is related for the month of March-16. I have made provision accounting as below?.

31-03-2016 Freight Charges A/C Dr.100000
Freight Charges payable Cr. 100000
(being made provision.)

01-04-2016 Freight Charges Payable. Dr. 100000
Party A/c Cr 99,000
Tds 1% Non-Com Cr. 1000

Is it correct?

Kindly request you to all clear about it.
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CA Mehta Ankur N.

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CA Mehta Ankur N. (Expert)
09 April 2016 No its Wrong

TDS Should be deducted in last year only & pay in last year only.

Because for TDS Rule is TDS To be deducted when you give payment or credit whichever is earlier.
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
09 April 2016 You can directly enter

Freight chgs. DR 100000/-
Party A/c or Freight payable CR 99000/-
Tds Payable. Cr. 1000/-
Book for March.
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