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Tds

Jayesh vadodariya (proprietor) (24 Points)

03 March 2016

in Sec 194C Invoice made in 01.05.2014 & Payment made to 31.08.2014, Ampunt Rs. 105000/- in Which date, TDS is Deductable ?????????????

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8 Replies

CA MANISH SAXENA (Partner) (561 Points)
Replied 03 March 2016

Hi Jayesh!

Yes Deductablle,on Credit or payment which ever is earlier!

Thanks!

CA Chandan Sharma (Chartered Accountant) (283 Points)
Replied 03 March 2016

Agreed with Mr. Saxena, Credit or payment which ever is earlier and in your case the date of deduction would be 01.05.2014.

Harry (Executive) (25 Points)
Replied 03 March 2016

TDs will deduct 31.08.2014

T.S.Dhiman (Advocate) (49 Points)
Replied 03 March 2016

i agree with CA Jayesh ji...

G soni (CA) (158 Points)
Replied 04 March 2016

It's possible that invoice is received late and entry passed thereafter . so credit may be late and not invoice date. Be sure to enter the data correctly in TDs return to avoid interest payment

yogesh kumar sharma (article) (33 Points)
Replied 04 March 2016

Yes, tds will be deducted on the date when amount credited in our books of accounts. To avoide interest tds should be deposited on or before 07/06/2014.

yogesh kumar sharma (article) (33 Points)
Replied 04 March 2016

Yes, tds will be deducted on the date when amount credited in our books of accounts. To avoide interest tds should be deposited on or before 07/06/2014.