Hi
I have received a bill of advertising of Rs 53000/- dated 14.05.2011. We have made the payment in installment (i.e) Rs10000/- 2) Rs 5000 on 22.05.2011 3) 38000 on 01.08.2011.
My question is
1) when i deposit the tds into bank
2) on which installment i deduct tds.
Pls reply
tds would be deducted on 14.05.2011 on RS. 53000 and same would be deposited on or before 07.06.2011
Thank you
is it ok if we adjust the tds amount on 3rd installment.
you will have booked the exp of rs. 53000 on 14.05.2011 therefore no question arise to adjust tds in 3rd installment,
Actually what happen the bill amount is Rs 53000/- and we made 3 cheques Rs 10000/- , Rs 5000 and Rs 36940/-
We have adjust the tds amount in 3rd installment.
is it right?
It is upto you where to adjust the TDS amount. The requirement is that you should deposit the amount before 7.6.2011.
hi
u can deduct the TDS as on the date of payment and deposit it accordingly
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
