TDS ON UNCERTIFIED
This query is : Resolved
22 August 2010
I AM WORKING IN A CONSTRUCTION COMPANY. I WANT TO KNOW THAT IF WE GIVE AN BILL TO CONTRACTEE WHICH IS UNCERTIFIED ON 31.03.2010. I DO NOT DO ANY ENTRY IN BOOKS OF SUCH BILL. IF CONTRACTEE DEDUCT TDS ON SUCH UNCERTIFIED BILL THEN WE SHOULD MAKE THE ENTRY OF BILLS IN BOOKS OR NOT.
GUIDE ME.
GUIDE ME.
22 August 2010
Uncertified bill cannot be recognasied as sales, also Construction industry has to follow AS-7 for recognasie the reveune, so
1. Contractee may not deduct the TDS with out certiy the bill, so when the bill is certified the same date only actual sales need to be captures .so tds can be treated which year the sale bill is certified
1. Contractee may not deduct the TDS with out certiy the bill, so when the bill is certified the same date only actual sales need to be captures .so tds can be treated which year the sale bill is certified
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