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Confusion about tds

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Kumar Gaurav

Going...to be C.A soon...

1055 Points Posted on 27 July 2013

Dear All

Pl. advise :

Our company received the bill on 12th July 2013 from the vendor.

Billing date was 30th June (for june month) & company booked the same on 30th June in books and deducted TDS on CREDIT.

I have confusion that how can company deposit the same deducted TDS amount in 7th July 2013???? because as per my klnowledge TDS deducted should have been deposited by 7th of the follwing month in which TDS has deducted.

Please understand the question and clarify me ......i shall be thankful to you.

Thanks

Replies (1)

CA and CMA Ravinder Singh

CA and CMA

488 Points Posted on 28 July 2013

the date of receipt of bill is not relevant.. Bill date is relevant for determining the due date for depositing tds..

GENERAL POINT: although your company has recived the bill after 7th of july, but the service should have been completed before 7tth of July and your company should no by then that there is gonna be tds liabilty on your part. why to wait ffor bill.....