Tds credit date
This query is : Resolved
06 December 2011
I have consultancy bill of Rs.400,000/- (including service tax), with invoice date 1-Nov-2011, but for Oct-2011 consultancy fee. I deducted TDS on this invoice @10%. Can i Book it in 31-Oct-2011? In which month this invoice liability booked? Is it consider the liability of Oct-2011? or Nov-2011?
06 December 2011
Though it relates to the month of October it will be booked on 1st Nov and TDS will be deducted. The deducted TDS will be required to be paid on or before 7th December in ITNS 281.
06 December 2011
Agreed with Mr. Sanjay.
However, had it been the case of March, you would be required to make a provision for such exp on 31st March itself & accordingly the TDS would also be required to be deducted on 31st March.
Within a financial year, you should follow a convention of booking an expense, not earlier than its bill date. Its a prudent practice.
However, had it been the case of March, you would be required to make a provision for such exp on 31st March itself & accordingly the TDS would also be required to be deducted on 31st March.
Within a financial year, you should follow a convention of booking an expense, not earlier than its bill date. Its a prudent practice.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Supply through E-commerce Operators
- STCG....................................................
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Sales return eway bill
- Relief u/s Section 89
- REGARDING GST LIABILITY/....
- Specified Profession
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- STCG FOR GOLD ETFs
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
