Tds (tax deducted at source)

This query is : Resolved

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

CA Deven

CA Deven (Expert)
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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)
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08 April 2015 Yes. TDS should be deducted.

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