Tds payment due date
This query is : Resolved
karishma mittal
(Querist)
09 July 2015
For one payment transaction cheque has been deposited on 27th June in the bank but bank has cleared it on 1 July for the payment then whether this transaction to be consider for TDS payment for June month or can take this transaction in July and deduct TDS in July and make TDS payment till 7 th July?
09 July 2015
TDS to be deducted based on date of entry in Cash book and not the date of clearance of cheque. So TDS to be deducted in June.
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Vijay Kalia
(Expert)
09 July 2015
Yes, it is to be considered for June month. Service Tax has clear cut mandate on this in rules. Sahara India case law favors the view on treasury payments in such circumstances.
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