Tds query

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 November 2014 If TDS is deducted in previous year i.e. in F.Y 2013-14 while making advance payment towards Professional Fees and same has been paid to the dept.

Can we book the expense in current year?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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14 November 2014 yes. very much. since you are following accrual basis, you will account for the expense on accrual basis only irrespective of when TDS was deducted.

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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14 November 2014 yes. very much. since you are following accrual basis, you will account for the expense on accrual basis only irrespective of when TDS was deducted.

Querist : Anonymous

Querist : Anonymous (Querist)

14 November 2014 Thank u sir for your prompt response.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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14 November 2014 you are welcome friend...

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