tds
This query is : Resolved
Supriya Dalvi
(Querist)
17 August 2010
if contractors or job workers bills come after 1mth from bill date that time Tds Deduction on payment Basis is it ok as per accounting method,
17 August 2010
Deduct TDS on the date of credit or payment whichever is earlier.
If you receive the bil after 1 month then book the bill on the date of receipt of the bill and deduct TDS.
If you receive the bil after 1 month then book the bill on the date of receipt of the bill and deduct TDS.
17 August 2010
Book the bill on the date of receipt & deduct the TDS on the same date.
17 August 2010
AGREED WITH EXPERTS.
FOR BETTER TREATMENT , IF BILL ISSUED BY JOBWORKER AFTER 1 MONTH, THEN DATE OF ISSUE OF INVOICE SHOULD BE FOR THE SAME MONTH IN WHICH YOU HAVE RECD IT.
IF HE IS ISSUING BACK DATE INVOICE TO YOU IN CURRENT, THEN IT SHOWS THAT BILL IS GIVEN BY HIM TO YOU IN LAST MONTH, BUT YOU HAVE ENTERED IN CURRENT. HENCE ALWAYS TAKE BILL FOR THE CURRENT DATE.
BY THIS WAY , YOUR LAIBILITY TO BOOK EXPENSES ON THE DATE OF RECEIPT OF BILL.
FOR BETTER TREATMENT , IF BILL ISSUED BY JOBWORKER AFTER 1 MONTH, THEN DATE OF ISSUE OF INVOICE SHOULD BE FOR THE SAME MONTH IN WHICH YOU HAVE RECD IT.
IF HE IS ISSUING BACK DATE INVOICE TO YOU IN CURRENT, THEN IT SHOWS THAT BILL IS GIVEN BY HIM TO YOU IN LAST MONTH, BUT YOU HAVE ENTERED IN CURRENT. HENCE ALWAYS TAKE BILL FOR THE CURRENT DATE.
BY THIS WAY , YOUR LAIBILITY TO BOOK EXPENSES ON THE DATE OF RECEIPT OF BILL.
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