I have received bill of Professional fees of Rs.8100 for the month of Feb, March & April 2012. How should i account it? I have received this bill of 6th June 2012. On what date should I post entry for this transaction? I want to deduct TDS also on this transaction.
Dear
If you are aware of the TDS (limit) & which will come automatically in Payment you can very well pass entry since as per TDS rule which has to be accounted wither at the time of payment or advance or at the time of accounting "which ever is earlier"
in your case entered it d date whichever is earlier
no matter when it would b received
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
