All Respected Members,
please educate me on following:
a firm received cheque dated 30th may, 2023 on 3rd April 2023. Client deducted income tax from payment and deposited it for fiscal year 2023.
in which fiscal year firm should record this receipt ? For FY 2023 or FY 2024 ?
Thanks in advance for your precious time and efforts to reply this query,
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AA-28 Receipt Recording
Replies (5)
When they got the cheque & deposited IT in to the bank .............
Dear Narendra Sir,
Thanks for your reply.
You means it will be recorded or considered receipt for the fiscal year 2024 ?
Thanks for your reply.
You means it will be recorded or considered receipt for the fiscal year 2024 ?
Yes............. .........
Dear Narendra Sir,
Thanks for confirmation.
Can you please educate me about procedure of adjustment of TDS deduction at the end of fiscal year.
I watched an video on YouTube in which a person was adjusting TDS deduction amount by income tax expense account.
is it better way of adjustment?
Thanks for confirmation.
Can you please educate me about procedure of adjustment of TDS deduction at the end of fiscal year.
I watched an video on YouTube in which a person was adjusting TDS deduction amount by income tax expense account.
is it better way of adjustment?
https://m.youtube.com/watch?v=N8BXLM5qDdI
Please see video by clicking above link.
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