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TDS Related Confusion.

This query is : Resolved 

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.

Invoice of what?????

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.

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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