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TDS Related Confusion.

This query is : Resolved 
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(Querist)
23 January 2021 Invoice received from Party Invoice Date 27/10/2020.
When I Booked in Account Date 23/01/2021.
So Interest/penalty applicable in this invoice.
Please guidance.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
23 January 2021 Invoice of what?????
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
24 January 2021 No interest and penalty applicable as you booked in accounts now only. Invoice date is irrelevant, only date of booking in accounts and date of payment is relevant for interst for late payment.
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Aashok Kumar Sharma online

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Aashok Kumar Sharma online (Expert)
26 January 2021 Agree with CA R Seetharaman Ji, TDS Liability ariese either by Booking of Expenses or Making Payment (Advance) for Expenses whicever is earlier. If you are making any advance payment for goods or services make sure to deduct TDS accordingly.
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