Tds
Querist : Anonymous
the architect has given the bill on 26/3/2015 and payment for the same is to be made on 5/4/2015. please tell me which date will be consider in TDS return for TDS deduction.. whether 31/3/2015 or payment date 5/4/2015
reply
date of credit/ payment whichever is earlier
either at the time of credit to the account of the payee,
or at the time of payment in cash, cheque, or by any other mode,
whichever is earlier.
Note:- 'credit' imply the credit given to the deductee's ledger account in the deductor's books.
prima Facie in your case
TDS shall be deducted on March' 2015 and the same shall be deposited on or before 30th April'2015
Querist : Anonymous
THE BILL WAS GIVEN TO ME ON 26/3/2015, HENCE ON 26/3/2015, I HAVE PASSED THE FOLLOWING ENTRY IN MY BOOKS OF ACCOUNTS TO CREDIT THE AMOUNT IN SERVICE PROVIDER LEADER THE FOLLOWING ENTRY IS AS UNDER...
LEGAL& PROFESSIONAL SERVICE DR...
TO TDS PAYABLE .....
TO SERVICE PROVIDER....
I HAVE PASSED THIS ENTRY IN MY BOOKS OF ACCOUNT ON 26/3/2015 BILL DATE. AND CREDIT THE AMOUNT IN SERVICE PROVIDER LEADER ALSO MADE THE DEDUCTION ON THE SAME DATE ON 26/3/2015.
PLEASE TELL ME. DOES THIS DATE 26/3/2015 WILL BE SHOWN IN TDS RETURN...
yes the date wil b 26.03 for entry
Querist : Anonymous
the TDS payment date is 30/4/2015 as far i know..
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