Tds

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 December 2014 sir we are make provision entry accounted for labour bill expenses day by day bill to bill but we are not make TDS provisions bill to bill. TDS made only one time last date of the month and also same deducted to consolidated amount one time this is valid

Rupesh Jain

Rupesh Jain (Expert)

18 December 2014 YOU HAVE TO DEDCUT TDS WHEN YOU MAKE CREDIT ENTRY IN CONTRACTOR A/C OR MAKE PAYMENT WHEICH EVER IS EARLIER U/S 194C

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

18 December 2014 This is not valid you have to make TDS bill wise and remit it monthly on or before 7th.

Amol S Joglekar

Amol S Joglekar (Expert)

18 December 2014 If you are making TDS entry once in EVERY month, at the end of the month...it should NOT create any problem provided you are paying the TDS in the subsequent month before the 7th day.
It is assumed that the solo entry of TDS made at the end of the month covers the requisite amount of ALL the bills in that month.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

18 December 2014 Deduction TDS monthly once and remitting on or before next month 7th is in order.

Querist : Anonymous

Querist : Anonymous (Querist)

18 December 2014 sir we deduct tds all the bills one time of month end and also remit the same in within 7 date of following month

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

18 December 2014 You are rightly doing it continue with it.