Entry after filing tds return q4

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Querist : Anonymous

Querist : Anonymous (Querist)

10 May 2012 What entries is required to be passed where tds return for Q4 2011-12 is already filed, but after filing return some bills are received dated before 01/04/2012. I don't want to file correction return or say bill received after 15/05/2012 which is last day of filing return.I think entries are
1) FY 2011-12
Exp Dr full Amt
O/s Cr full Amt

2) FY 2012-13
O/s Dr full Amt
Party Cr full amt less tds amt
TDS payable tds amt

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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10 May 2012 If you book the bill, you will have to deduct TDS because TDS is deducted on paymnet or booking of bill, whichever is earlier.

So you will have to deduct TDS and also deposit the same along with interest and then revise the TDS return.

In this case, it is advisable to book the bill in the current year.

Querist : Anonymous

Querist : Anonymous (Querist)

10 May 2012 Is it possible to book bill in current year while the expenses are related with the previous year ? i don't thin so.
your comments plz.

Querist : Anonymous

Querist : Anonymous (Querist)

10 May 2012 I think it can't possible to book expenses related with previous year in current year

Querist : Anonymous

Querist : Anonymous (Querist)

10 May 2012 So what is remady in above matter, where return is alredy filed

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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11 May 2012 Bills pertaining to previous year which have been received after the due date of filing the TDS return can be booked in the current year even though they pertain to the previous year.

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CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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11 May 2012 Bills pertaining to previous year which have been received after the due date of filing the TDS return can be booked in the current year even though they pertain to the previous year.

Message likes : 1 times

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