Re: pertaining bill of 2011-12
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 May 2012
Dear Expert
I am accountant in Pvt Ltd Co. some cotractor send bill of pertainig F.Y. 2011-12. In which date of accounting entry?& What is TDS treatment? because TDS Return of 4th Quarter is filed. Please give solution.
I am accountant in Pvt Ltd Co. some cotractor send bill of pertainig F.Y. 2011-12. In which date of accounting entry?& What is TDS treatment? because TDS Return of 4th Quarter is filed. Please give solution.
31 May 2012
Since the bill has been received in the current year, book the expense in the current year and also deduct TDS in the current year.
31 May 2012
based on mercantile system of accounting, the service is rendered by the contractor in last year,hence the expenses must be booked in last year i.e.2011-12.
second, for tds , pls check whether the limit for deducting tds u/s 194c is crossed or not for that particular venor. furhter if it is crossed then pls deduct tds and deposit tds with intt as on today and revise the tds return for 4th qtr.
second, for tds , pls check whether the limit for deducting tds u/s 194c is crossed or not for that particular venor. furhter if it is crossed then pls deduct tds and deposit tds with intt as on today and revise the tds return for 4th qtr.
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