Tds
This query is : Resolved
Rajkumar Gutti
(Querist)
23 September 2017
If event occur in the financial year 16-17 ( date 06.12.16 ), but party send the bill
in May 2017 ( Bill date appear 06.12.16 ) The contractors bill is applicable for TDS.
The said bill is accounted in Sept.2017.
Can we are liable to interest for late deduction & late payment.
Thanking You
Regards
Rajkumar Gutti
in May 2017 ( Bill date appear 06.12.16 ) The contractors bill is applicable for TDS.
The said bill is accounted in Sept.2017.
Can we are liable to interest for late deduction & late payment.
Thanking You
Regards
Rajkumar Gutti
24 September 2017
Being Bill dated as 06.12.16, you may account it as it is and pay the TDS with interest and file a correction return for Q3 of FY 2016-17. Because you also not accounted the expenditure in FY 2016-17 and deductee also cannot account it in that FY. But if the deductee wants to account it in FY 2016-17 he may loss the TDS.
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