Tds on service provided for previous quarter
This query is : Resolved
Mukesh Sharma
(Querist)
19 June 2015
Dear sir,
I have a invoice dated June 15 month for legal services provided for the moth of oct-dec 14. Now my question is that how much Tds I need to deduct and in which quarter it will be reported.
Thanks in advance!
I have a invoice dated June 15 month for legal services provided for the moth of oct-dec 14. Now my question is that how much Tds I need to deduct and in which quarter it will be reported.
Thanks in advance!
CMA Ramesh Krishnan
(Expert)
19 June 2015
Since Invoice date is June 15, you can account the same in June month and pay the TDS on or before 7th July, accordingly you need to include in the 1st quarter of 2015-16
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Mukesh Sharma
(Querist)
22 June 2015
Dear Mr. Ramesh Krishnan,
Thanks for your valuable words, but could you please refer me any article regards this in income tax act because i have a different point of view to see this.
your thoughts...
Thanks for your valuable words, but could you please refer me any article regards this in income tax act because i have a different point of view to see this.
your thoughts...
CMA Ramesh Krishnan
(Expert)
22 June 2015
TDS required to deduct on accounting of bills or payment on bills which ever is earlier. in your query since bill raised by the vendor June only. so you can deduct the TDS on June( provided you have not paid the vendor).
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