Deduction of tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 March 2016
what is meaning of Payment or credit which ever earlier TDS will be deducted . please explain payment or credit.
Ankur Singhal
(Expert)
12 March 2016
Dear
Payment means actual payment made to the person.
Credit means the entry made in books of accounts.
In case you think not to enter the bill in books or delay the entry for the purpose of tax planning then income tax deptt. takes the bill date as date of credit.
Payment means actual payment made to the person.
Credit means the entry made in books of accounts.
In case you think not to enter the bill in books or delay the entry for the purpose of tax planning then income tax deptt. takes the bill date as date of credit.
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