Tds payment
This query is : Resolved
19 April 2013
Sir/Madam
The TDS amount related to the month of March paid in the month of April, belongs to which quarter? (previous or preceding year)
The TDS amount related to the month of March paid in the month of April, belongs to which quarter? (previous or preceding year)
19 April 2013
It relates to the last quarter (Jan to March) of the the preceding year.
19 April 2013
While making provision for salaries related to March which is payable in the April, if entry is passed for whole amount as provision for salary in March and split entry for deductions passed in April, does that deductions (TDS or IT) related previous year quarter or preceding year. Because, provision rule says 'At the time of credit or at the time of payment which is earlier'.
19 April 2013
Yes it will relate to previous year last quarter.
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