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) ?
My point is whether is TDS deductible at the time of expenses booked (party is not affected here) ?
03 April 2015
TDS is deductible at the time of payment or credit whichever is earlier.
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 ?
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 ?
08 April 2015
Yes. TDS should be deducted.
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