Late deduction of tds
This query is : Resolved
23 September 2011
bill date 06.09.2010
bill has been recd by us on 14.09.2010
expenses booking date in the system - 12.12.2010
TDS deducted and booked on 14.12.2010 & paid before 7th Jan 2011 to the govt
whether the above transaction attract late TDS deduction?
pls reply fast
bill has been recd by us on 14.09.2010
expenses booking date in the system - 12.12.2010
TDS deducted and booked on 14.12.2010 & paid before 7th Jan 2011 to the govt
whether the above transaction attract late TDS deduction?
pls reply fast
23 September 2011
TDS is required to be deducted on date of payment or credit whichever is earlier.
So in the given case Late deduction is not attracted, provided you did not make any payment to the party until after 14.12.2010.
So in the given case Late deduction is not attracted, provided you did not make any payment to the party until after 14.12.2010.
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