Hi
I would like to know following quiery
one non profit organisation is maintaing accounts in cash basis
and booked a expenses of 2009-10 f.y in the financial year 2008-09
and issued the TDS certicate to compay in the year 2008-09. but company is preparing its accounts accrual basis and that income is for 2009-10 ffiancial year to the company
can you tell me how can sovlve this issue
thanking you
narender
Hie,
See basic problem in solving your query is that it is not clear that: -
01. Organisation is recognising its transactions on what basis i.e. on cash basis or Accrual basis.
02. you are facing problem in which face?
Try to solve the above mentioned problems you will get your answer
Hi Narender,
The query you asked is not clear. TDS needs to be deducted at the time if credit or payment whichever is earlier. The deductor has deducted at the time of payment. On whatever basis they are maintaining their books of accounts is irrelevent for you. You have to account it according to your system of accounting.
CAclubindia
