TDS Payment

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varun gupta (Querist)
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03 May 2008 When will the Liability of a Company arise to Deposit TDS deducted from payment to a contractor in case bill for month of September is actually received on 15th Oct., the amt of bill not ascertained yet 7th Oct?

Sanjeev Kumar Varshney

Sanjeev Kumar Varshney (Expert)
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03 May 2008 The liability of TDS will arises at the time of advance payment or crediting the bill which ever is earlier. If you have received the bill in October and not yet passed in books of accounts or donot make any advance paymment then TDS liability is not arises till now.

CA. Kirti S. Ganatra

CA. Kirti S. Ganatra (Expert)
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05 May 2008 Provision in Due or paid Which ever eralier. So as bill was due on 30 September you have to deduct TDS on 30 September and pay by 7 October

varun gupta

varun gupta (Querist)
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05 May 2008 Hi Kirti, but how can i deposit TDS when i have no idea abt the bill amount?

Amit Sharma

Amit Sharma (Expert)
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05 May 2008 Then the only thing to do is that make a provision in the books. Accumilate TDS deposit till year end and pay it with interest.

Hope you are clear now.

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