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
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
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)
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...
CAclubindia
