TDS

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 June 2011 RESPECTED MEMBERS,

IN ONE OF MY CLIENT. I FOLLOW MERCANTILE ACCOUNTING SYSTEM. WE GET 2 MONTHS CREDIT FROM OUR VENDORS. WE MADE THE FEBRUARY & MARCH PAYMENTS AT APRIL & MAY RESPECTIVELY.
AND DEDUCT TDS AT THAT TIME ONLY. WE GOT THE BILLS ALSO AFTER TWO MONTHS

NOW I WANT TO KNOW WHICH DATE I MENTION IN TDS SOFTWARE.
COZ AS PER ACCOUNTING I HAVE TO MAKE THE PROVISIONS AS ON 31ST MARCH BUT ACTUAL PAYMENT DATE DIFFERS.

CA KRISHNA KUMAR DARUKA

CA KRISHNA KUMAR DARUKA (Expert)
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27 June 2011 You have to make provision on 31st March and deduct TDS also on 31st March. You have to mention date of credit in the software.

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