Tds payment

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Abhilash (Querist)
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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)

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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19 April 2013 It relates to the last quarter (Jan to March) of the the preceding year.

Abhilash

Abhilash (Querist)
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19 April 2013 Thank you sir.

Abhilash

Abhilash (Querist)
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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'.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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19 April 2013 Yes it will relate to previous year last quarter.

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