Tds deducted quey for date of bill issue

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 November 2014 Dear Expert,

My one client contract to a courier agency and courier bill received for monthly courier expenses so my question are this courier agency are bill date entire in bill of date for last month end ( Exp. Aug bill courier bill date 31.8.14)and actually bill received my hand in after 8 to 10 working days so on this time already go tds payment date.
Please advice bill received bill on my hand time deducted the tds or bill date because client are said why i paying interest her time are received a bill late?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 November 2014 Don't bother about bill date for TDS it is only the date you (after receipt) admit the bill for payment considered for TDS.

Querist : Anonymous

Querist : Anonymous (Querist)

25 November 2014 Dear Exper,

Mean by i deducted a tds on bill date and pay interest

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 November 2014 Don't consider bill date for TDS and pay interest. Consider bill admit date for TDS.

Querist : Anonymous

Querist : Anonymous (Querist)

25 November 2014 thank you Expert,

Nice advice and sir please send any section/ rule of this part.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 November 2014 Point of Deduction of TDS

Salary :At the time of payment

Other Payments :When income paid or credited including credit to "Payable" or "Suspense" account.

Consequences of failure to deduct tax:
Interest - 1% of the tax deductible.
Penalty - equal to the amount of tax deductible but not deducted.

Querist : Anonymous

Querist : Anonymous (Querist)

26 November 2014 Thank you Expert,

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