What is date of deduction for march

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RK AND ASSOCIATES (Querist)
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17 October 2017 we know that TDs on salary deducted on payment basis is.april months salary will paid in may and mays in June so for quarter 1 do I have to record only two months TDs April and may because June months TDs would fall under q2 ... same what is date of deduction for salary in march as march salary paid in April

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CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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18 October 2017 June month TDS will fall in Quarter2 as date of deduction is in July..... But TDS of march to be deduct in March itself because of this

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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18 October 2017 Because salary taxable on due or receipt basis w.e. earlier....

RK AND ASSOCIATES

RK AND ASSOCIATES (Querist)
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18 October 2017 but TDs is to be deducted only in payment basis na

RK AND ASSOCIATES

RK AND ASSOCIATES (Querist)
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18 October 2017 only on payment basis

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RAJA P M

RAJA P M (Expert)
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18 October 2017 1st Quarter - April & May 2nd Quarter - June to August 3rd Quarter - September to November & 4th Quarter - December to March (Provision is March)

RK AND ASSOCIATES

RK AND ASSOCIATES (Querist)
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18 October 2017 thank you all .....

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RAJA P M

RAJA P M (Expert)
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18 October 2017 u r welcome.....

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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18 October 2017 Welcome......

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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18 October 2017 TDS deducted on payment basis but for March it's better to make provision on 31 March before payment.....

RK AND ASSOCIATES

RK AND ASSOCIATES (Querist)
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18 October 2017 But can I file TDs return on provision basis q1 April may &June due basis date of deduction 31/4/17 , 31/5/17 and 30/06/17

RAJA P M

RAJA P M (Expert)
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18 October 2017 What is the meaning of provision...? A provision for income taxes is the estimated amount that a business or individual taxpayer expects to pay in income taxes for the current financial year. The amount of this provision is derived by adjusting the reported net income of a business with a variety of permanent differences and temporary differences.... So, You ll decide the June month's related provisions...

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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19 October 2017 Yes you can do so RK & Associates .We also do so ......

RK AND ASSOCIATES

RK AND ASSOCIATES (Querist)
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19 October 2017 Thank you.. & Happy Diwali....

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CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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19 October 2017 Same to you.... Wishing you a prosperous & wealty diwali....

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