TDS payment-Accruing expenses without invoices?
This query is : Resolved
Pran Arora
(Querist)
27 February 2009
have a company, we have to pay our C & Fs every month. One of my CAs says that we need to accrue the payment for their services everymonth (irrespective whether I recieve the invoices or not) & pay TDS next month ,other CA says that there is no need for accrual .We should wait for the actual bills to come & only after crediting/payment (whichever is earlier) ,we are liable for TDS deposit.Please suggest
CA. B.SRINIVASULU
(Expert)
27 February 2009
TDS is payable on the basis of the entry passed in the books of accounts or payment whichever is earlier.
However you should have a control over the bills they issue. For eg a consultant is giving you his consultancy bill monthly for april, may, june, seperately. You cannot say you have accounted cumulatively on july and paid tds. In this case april, may, june, you have to deduct tds and pay seperately every month.
However you should have a control over the bills they issue. For eg a consultant is giving you his consultancy bill monthly for april, may, june, seperately. You cannot say you have accounted cumulatively on july and paid tds. In this case april, may, june, you have to deduct tds and pay seperately every month.
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