While collecting TDS under 194 Q, which date we will consider when the invoice is in transit. If the vendor issued invoice on month end and the material despatched on next month
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Regarding TDS applicability on in transit invoice
Replies (5)
It depends on how you follow the accounting..If you consider the Tds in bill itself then invoice date relevant..
Generally payment date will be the relevant date for deducting Tds.. While making the payment only we cut the tds .. Even tds returns ask for date of payment.
So go by payment date instead of above two options
Generally payment date will be the relevant date for deducting Tds.. While making the payment only we cut the tds .. Even tds returns ask for date of payment.
So go by payment date instead of above two options
It's Payment date, u have to consider.
The tds section makes it clear booking/ accruals or payment whichever is earlier.
Kindly clarify that booking date or invoice date.
Tds liability araises only when you cut the tds . Generally tds deduction happens while making the payment.
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