Tds - bill received late

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CA Nilam (Querist)
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18 October 2013 In most of the cases company receives bill after due for payment of TDS.. what to do in such situation?? Can accounting entries be made on receiving date instead of bill date??

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 October 2013 Yes accounting entry to be made after receiving the bill on date when bill is received. Due date for payment of TDS will be calculated from the date of book entry.

TDS to be deducted on date of payment or credit which ever is earlier.

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CA Nilam

CA Nilam (Querist)
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18 October 2013 but there are so many bills which are received after due date of payment. If made accounting entry on receiving date than wont it create difficulty if our case comes in scrutiny?? as bill date and entry date wud be different

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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18 October 2013 Yes but the suggestion given by expert still holds true even if there is difficulty faced as in any case you need to follow what law says.

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 October 2013 No issues. You can only pass entry after you receive the bill. Treat bill received date as date of entry. This is normal practice.