TDS Rate on previous year expense booked in current year
This query is : Resolved
08 January 2009
Hi
Case:
A vendor whose invoice has not been booked in FY 2006-07 & FY 2007-08 in our books i.e. expense were not booked in our accounts
TDS rate in those periods for the vendor was 1% BASIS SEC 197 (Lower Rate).
TDS Rate in FY 2008-09 is 2% BASIS SEC 197 (Lower Rate).
.
Now, while booking the above expenses of previous years, what should be the rate of TDS??
Thanks
Case:
A vendor whose invoice has not been booked in FY 2006-07 & FY 2007-08 in our books i.e. expense were not booked in our accounts
TDS rate in those periods for the vendor was 1% BASIS SEC 197 (Lower Rate).
TDS Rate in FY 2008-09 is 2% BASIS SEC 197 (Lower Rate).
.
Now, while booking the above expenses of previous years, what should be the rate of TDS??
Thanks
08 January 2009
Rate as applicable in the current year i.e. 2%.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Minor Aadhar card cancelled
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
