Tds on commission paid to material supplier
This query is : Resolved
09 February 2013
1) Whether TDS to be Deducted on Commission Paid on MAterial Supplied.
2)If Yes When will TDS Liabilty Will arise on the Occasion of Commission Booking Entry or When I have made a payment to supplier.For Eg
I have Passed Following Entry on 01-05-2012
commission A/C Dr 100000
S.tax 10300
To Party 110300
30/10/2012
Party Dr 110300
to Bank 100300
To TDS 10000
7-11-2012
TDS Dr 10000
To Bank 10000
Whether Above entry is correct or i have to book TDS on the date of booking of invoice.
Awaiting for ur replies as soon as possible
2)If Yes When will TDS Liabilty Will arise on the Occasion of Commission Booking Entry or When I have made a payment to supplier.For Eg
I have Passed Following Entry on 01-05-2012
commission A/C Dr 100000
S.tax 10300
To Party 110300
30/10/2012
Party Dr 110300
to Bank 100300
To TDS 10000
7-11-2012
TDS Dr 10000
To Bank 10000
Whether Above entry is correct or i have to book TDS on the date of booking of invoice.
Awaiting for ur replies as soon as possible
CA Parul Saxena
(Expert)
09 February 2013
You are supposed to book TDS at the time of booking of invoice....
09 February 2013
Sir, TDS to be Paid from the date of Booking of Invoice Or Date of Credit Of TDS in Books of Account......
CA Parul Saxena
(Expert)
09 February 2013
TDS is required to be deducted from the date of booking or payment whichever is earlier......
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