Tds on contractor

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This query is : Resolved

Gurvinder Singh (Querist)
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07 November 2014 Kind Attn : Dear Sir/Mam

PLS ADV IN THE FOLLOWING:

-OUR CO(PVT LTD) HAS MADE PAYMENT OF VENDOR'S BILL PERTAINING TO F.Y:13-14. AFTER DEDUCTING TDS

-BALANCE SHEET NOT FINALISED FOR F.Y. 13-14

CAN I BOOK THE BILL IN F.Y.13-14, IF YES, NEED TO PAY TDS WITH INTEREST. WHAT IS THE CALCULATION OF INTEREST?

IF THE BALANCE SHEET IS FINALISED FOR F.Y13-14
-CAN I BOOK THE BILL IN F.Y.14-15 AND DEDUCT TDS AS ON DT.

PLS ADV.

THANKS
GURVINDER SINGH

Amol S Joglekar

Amol S Joglekar (Expert)
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07 November 2014 01. Book the bill in the year in which the DATE of the BILL falls.
02. TDS is made at the time of making payment. So the TDS will go as per the date of payment.

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