TDS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 July 2010
Dear Sir,
We have deducted TDS on contract(Sec. 194C) at the time making advance towards expenditure as on 28.02.2010. The TDS liability was paid in the month of march 2010. The related expenditure was accounted month of june 2010. In view of the above will we be able to correlate TDS payment made against the related expenditure in our quarterly returns although TDS is deducted prior to accounting the expenditure.
We have deducted TDS on contract(Sec. 194C) at the time making advance towards expenditure as on 28.02.2010. The TDS liability was paid in the month of march 2010. The related expenditure was accounted month of june 2010. In view of the above will we be able to correlate TDS payment made against the related expenditure in our quarterly returns although TDS is deducted prior to accounting the expenditure.
02 July 2010
If tds deducted on advance made in a year and bill is accounted agaisnt advance is next financial year. Then no tds will be deducted on such advance , because we have already deducted tds on it.
TDS deducted on advance is shown in that quarterly tds return in which advance made.
No need to shown bill accounted agaisnt advance is to be shown in quarterly return.
TDS deducted on advance is shown in that quarterly tds return in which advance made.
No need to shown bill accounted agaisnt advance is to be shown in quarterly return.
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