Basis of deduction of TDS
This query is : Resolved
03 June 2010
My query is that if invoice from the party is dated 30/9/2009 but the client is booking the invoice in the month of October 2009, whether TDS should be deducted at the rates applicable till Sept 2009 or at new rate introduced from Oct 2009.
03 June 2010
Dear Kamini,
TDS rate to be adopted will be the rate applicable on the date of credit or payment whichever is earlier.
Regards
Kanti Jain
TDS rate to be adopted will be the rate applicable on the date of credit or payment whichever is earlier.
Regards
Kanti Jain
Message likes :
1 times
03 June 2010
AGREE WITH EXPERT.
04 June 2010
kantijain sir u meant to say oct rate of TDS will be applicable.
04 June 2010
YES. IF U RECEIVED THE BILL OF SEPT IN OCT THEN YOU WILL DEDUCT TDS @ APPLICABLE FOR OCT.
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