Tds relating to different years

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 June 2015 Dear Sir,

In Mar'15 (f.y.14-15) we make advance payment of Rs.15000/- against renewal of iso certification fees and then make another advance payment of Rs.25000/- in June'2015 (f.y.15-16) to same party so total bill will amount to Rs.40000/- which is received in June'15 only.
Now I want to know should we require to deduct tds on total bill amount.

Please reply.

Amol S Joglekar

Amol S Joglekar (Expert)
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12 June 2015 Yes. You need to deduct TDS on 40,000

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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12 June 2015 Yes you need to deduct tds on full..because bill well b expensed in current year

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2015 Thanks for the reply.
Two more questions:
Firstly, as we had made advance payment without deducting tds now if we deduct tds then we had to pay interest also.

And Secondly, if bill date is 29.05.2015 but we had received and booked it in June'15 month and deposit the tds in July'15 then also we had to pay interest.

Amol S Joglekar

Amol S Joglekar (Expert)
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13 June 2015 Bill date is 29/05/2015. You can very well book it in the month of June 2015. Reasonable assurance is always sought. (Not mathematical accuracy)

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