16 June 2012
AS per AS-4 adjusting events are reqd to be adjusted in the b/sheet date itself so suppose a particular contract which is an adjusting event and also attract TDS U/s 194C then if the same is reqd to be provisioned as on 31.03.2012 in the month of May 2012 (due to adjusting event)then 194C also becomes applicable hence TDS should also have been deducted, which is not possible as due date for the deposit of TDS has expired. Please advice
16 June 2012
Due date to deposit the tax deducted on amount/Income paid in March 2012 and Tax deducted on provisions created in March 2012 is 30.04.2012. This is as per notification 41/2010 dated 31.05.2010 For updattion you can click on (http://taxclubindia.com/simple/tds%20rules%202010-11.pdf)
In old rules due date for tax deducted in month of march was 7 April and date to deposit tds deducted on provision on last day of financial year was 31.05 of next financial year.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
16 June 2012
I know the same but suppose in the month of May I have to make adjustmne t as on the b/s heet date i.e 31.03.2012 then how TDS provision would be fullfiled as due date for depositing TDS has expired.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
16 June 2012
I know the same but suppose in the month of May I have to make adjustmne t as on the b/s heet date i.e 31.03.2012 then how TDS provision would be fullfiled as due date for depositing TDS has expired.
CAclubindia
