Date of deduction and date of payment in tds return
This query is : Resolved
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.
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.
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.
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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06 October 2012
I agree with the clarifications given by the expert.
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