Date of tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 February 2015 I want to deduct TDS on commission but query is on which date TDS is deductible if 1) bill date is 01/01/2015 2) bill recorded in books of account on 25/01/2015 and 3) payment date against the same bill to the party is 02/02/2015.
Kindly reply..
Regds,
Pradip
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
03 February 2015 TDS to be deducted on the date of payment or credit whichever is earlier. So in the given case TDS required to be deducted on 25.01.2015.
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Querist : Anonymous

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Querist : Anonymous (Querist)
03 February 2015 Thank you sir, for your reply. one more doubt is, if bill date is 04/04/2014 , we received the same on 01/01/2015 then on which date we have to record this bill in our books of accounts and explain if we recorded it on bill received date then what will be the effect during the audit.
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Querist : Anonymous

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Querist : Anonymous (Querist)
03 February 2015 Thank you sir, for your reply. one more doubt is, if bill date is 04/04/2014 , we received the same on 01/01/2015 then on which date we have to record this bill in our books of accounts and explain if we recorded it on bill received date then what will be the effect during the audit.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
03 February 2015 You need to record it in your books on the date of receipt and deduct TDS therefrom.
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