TDS
This query is : Resolved
Vinod Kumar Shukla
(Querist)
23 May 2011
Dear Expert,
I am confused that while validating TDS details which date should be written as deduction date and payment/credit date. Is the date of depositing TDS should be considered as payment or credit given date?
I am confused that while validating TDS details which date should be written as deduction date and payment/credit date. Is the date of depositing TDS should be considered as payment or credit given date?
23 May 2011
"Deduction date" refers to The date when you are deducting TDS at the time of making payment to vendors or suppliers and Payment / Credit date means depositing date of TDS to the Government account.
24 May 2011
Payment/credit date means the date on which sum liable to TDS has either been paid or credited to party's a/c.
Date of deduction means date on which TDS is deducted.
Usually these two dates are same but date of deduction may be later in following cases:
i) Deduction may have been done at a later date because of the amount paid earlier not exceeding threshold limit
ii) Deduction may have been done late.
Date of deduction means date on which TDS is deducted.
Usually these two dates are same but date of deduction may be later in following cases:
i) Deduction may have been done at a later date because of the amount paid earlier not exceeding threshold limit
ii) Deduction may have been done late.
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