Tds on provision
This query is : Resolved
07 December 2017
WE RECEIVED CHARTERED ACCOUNTANT'S BILL TOWARDS
STAT & TAX AUDIT ON 05.12.17, FOR AUDIT F.Y.16-17 ,RS.2500000/-
IN BALANCE SHEET F.Y.16-17 WE MADE PROVISION FOR AUDIT EXP.
AND ALSO MADE PROVISION FOR TDS.
NOW QUESTION ARISES WHEN TDS LIABILITY START .
1) AFTER MAKING PROVISION IN THE YEAR F.Y16-17
OR
2) AFTER BOOKING INVOICE IN THE YEAR F.Y.17-18
3) IS MAKING TDS PROVISION IS MANDATORY
YOU ARE REQUESTED TO GUIDE US
THANKING YOU
RAJKUMAR GUTTI
WE RECEIVED CHARTERED ACCOUNTANT'S BILL TOWARDS
STAT & TAX AUDIT ON 05.12.17, FOR AUDIT F.Y.16-17 ,RS.2500000/-
IN BALANCE SHEET F.Y.16-17 WE MADE PROVISION FOR AUDIT EXP.
AND ALSO MADE PROVISION FOR TDS.
NOW QUESTION ARISES WHEN TDS LIABILITY START .
1) AFTER MAKING PROVISION IN THE YEAR F.Y16-17
OR
2) AFTER BOOKING INVOICE IN THE YEAR F.Y.17-18
3) IS MAKING TDS PROVISION IS MANDATORY
YOU ARE REQUESTED TO GUIDE US
THANKING YOU
RAJKUMAR GUTTI
07 December 2017
Fee and the payee is known as on the book closure date, hence provision is made ,meaning thereby TDS attracts on the year end date.
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