Tds

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sushil (Querist)
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04 July 2010 Dear all,

Pls suggest me on the following

we have recd bill dtd 31.3.10 on 15.04.10
for
freight Foreign ( not tds ) Rs.80000/-
Clearing & forwarding chrgs (tds deuctible) Rs.15120/-
Total Rs.95120/-

We have deducted tds on Rs.15120/- on 15.04.10 & remitted on 30.04.10 for a.y.11-12. but booked on 31.03.10.
if we debit entire exp on 31.3.10 it will be disallowed.let me know whether we can book Rs.80,000/- on 31.3.10. since no tds deuctible on the same. And Rs.15120/- on 15.04.10 becoz tds is deductible on this amt. & we have deducted & paid for f.y.10-11 i.e. a.y.11-12.

Thanks in advance.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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04 July 2010 Booking expenses on 31.03.10 is wrong as TDS deposited for ay 2011-12. So book the expenses on 15.04.10. If the bill date for both are same it is better to book on the same date. So in my view book both bill on 15.04.10. However you can book bill of Rs. 80000/- on 31.03.10 if you have received separate bill for this amount.

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