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Querist : Anonymous

Querist : Anonymous (Querist)

21 August 2013 For all other payments – TDS is deductible at the time of credit to the recipient account in the books of the deductor or at the time of payment, whichever is earlier.

But in the month of march payment to be made have not been credited to the respective parties a/c instead the following entry has been passed
expense a/c...dr
To o/s liab a/c

now should they deduct tds when they recieve the bills or in the month of march only??

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

22 August 2013 Yes. tds will apply even provision entries also. whether you are giving credit to party account or suspense account or any other account TDS need to be deducted

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

23 August 2013 Okay Thanks a lot..

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