Tds on salary

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 November 2012 Dear Experts

We have to pay salary to our foreing director from april 2012.

Can we book total remunaration in the month of march 2013 or we have to book every month becuase payment will be made in March 2013 & salary is not booked from april 2012.

pls advice on TDS & accounting

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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01 December 2012 As per AS 1 and Section 209 books of accounts are to be maintained on accrual basis. This means that expenses should be accounted for when they accrue or become due.

Accordingly, salary should be accounted for on a monthly basis even though payment for the same shall be made at the end of the year.

However, TDS u/s 192 will be deducted at the time of payment.

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