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Date of deduction and date of payment in tds return

This query is : Resolved 
Quick Summary
Date of payment or credit is when expense is recorded or paid. Date of deduction is when TDS entry is passed. Though TDS is deducted at payment or credit, entries may be recorded later, causing difference in dates.

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(Querist)
05 October 2012 Hi Everyone,

I want to clear what is difference between 'Date of Deduction' and 'Date of Payment/Credit'.

While we deduct TDS at the time of payment/credit, then how it will possible to vary in the dates.

Please clarify the same.
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Sanket Shah

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Sanket Shah (Expert)
05 October 2012 Date of payment/credit is the date on which account of party is debited/credited either by making advance payment or by passing book entry.

Whereas date of deduction is date on which entry for TDS is passed in the books of accounts.

TDS is deducted at time of payment/credit but entry for the same may not be passed at the same time. Hence difference in dates may arise.
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Pankaj Gupta

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Pankaj Gupta (Expert)
06 October 2012 I agree with the clarifications given by the expert.
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