TDS deduction from payments & bills
This query is : Resolved
JAVED SHEIKH
(Querist)
09 August 2008
We follow different Formula for tds on bill amount and on payment amount. Th logic on payment is that the payment will be after tds hence on payment we put reverse formula and on bill amount we follow direct formula
Is there any base of provision for this ?
Is there any base of provision for this ?
CA Hemant T Dewani
(Expert)
09 August 2008
when you are maintain A/C's on mercantile basis then you will deduct TDS when entry is made in the books & paid to the tresury
on 7th of the following month
on 7th of the following month
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