Tds (tax deducted at source)

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Querist : Anonymous

Querist : Anonymous (Querist)

03 April 2015 Q: Is TDS is deductible at the time of Expenses Book or at the time of payment or credited to the party ?

My point is whether is TDS deductible at the time of expenses booked (party is not affected here) ?

CA. SHIVA SHANKARA R. SHETTY

CA. SHIVA SHANKARA R. SHETTY (Expert)

03 April 2015 TDS is deductible at the time of payment or credit whichever is earlier.

CA Deven

CA Deven (Expert)

03 April 2015 Dear if you have made advance payment to party before booking Jv u will deduct and pass payment entry and if u are first passing JV than at the time of Booking ...Also you need to check the party ledger whether it is crossing TDS slab.

Querist : Anonymous

Querist : Anonymous (Querist)

08 April 2015 Thanks for responses all, but still i am not cleared.

My question is at the time of JV there is Expenses GL and Liability GL booked. Vendor / Party is not touched here then TDS is deductible or not ?

CA. SHIVA SHANKARA R. SHETTY

CA. SHIVA SHANKARA R. SHETTY (Expert)

08 April 2015 Yes. TDS should be deducted.

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