Late receiving of vendors bill\invoices

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2015 Dear Experts,
i want to know that when to book bills in the books of accounts on the date of receiving or by the bill date.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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16 May 2015 whichever event is earlier u need to book on that date as bill can be sent later also.

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Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2015 Means,

if bill date is 30/04/15 and i received that bill on 15/05/2015 than I can Book it in the books of accounts on 15/05/2015

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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16 May 2015 it means bill is for month of april 15 so book on 30.4.2015

Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2015 and if there is TDS liability of Rs. 10000/- which i have to pay on 07/05/2015. but the bill is received on 15/05/2015 than i have to pay late payment interest on the tds liability , but that,s not my fault

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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16 May 2015 income tax dept will not see whose fault is there, if u pay late tds then int will be have to be paid by you only

Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2015 if i book that bill on 15/05/2015 than i dont have to pay interest on TDS payment, it contradict accounting standard or principal of accounting but i dont have to pay Interest
which may be in thousands in whole year

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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16 May 2015 fundamentally it should be booked by 30.7.2015

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Querist : Anonymous

Querist : Anonymous (Querist)

17 May 2015 Means it should be booked on *30/04/2015

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