TDS Deduct
This query is : Resolved
20 April 2011
Sir,
Bill for the month June is come 1.07.2010 then when we deduct TDS & In which Quarter return we show it in Quarter 1 or Quarter 2??
If It should be show in Q1 but we show in Q2 and every Quarter last month Bill we show in next Quarter (Sept. Bill in Q3)
Now in Q4 return Bill is remaining from Dec. 10.
Now what is the procedure for this???
Bill for the month June is come 1.07.2010 then when we deduct TDS & In which Quarter return we show it in Quarter 1 or Quarter 2??
If It should be show in Q1 but we show in Q2 and every Quarter last month Bill we show in next Quarter (Sept. Bill in Q3)
Now in Q4 return Bill is remaining from Dec. 10.
Now what is the procedure for this???
21 April 2011
WE NEED TO SHOW TDS ON ACCRUAL BASIS. EVENTHROUGH BILL IS DELAYED. WE HAVE TO BOOKED ON RECEIPT OR ACCRUAL BASIS WHICHEVER IS EARLIER.
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22 April 2011
Ya shweta is correct. u have to deduct tds in the month in which it is booked or payment is recd. which ever is earlier.There is no need to look for bill date.
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