TDS 94C

Irrespective of deduction of tds that will be an asset

and pt no. 2

in pt. 2 , i want to know whether we can debit the whole amt of furniture in the account before 31-3-2010 or we have to debit it wen we will pay the balance amt and deduct TDS on it?

In Sec 194C it is written any payment and not necessarily expense.....on which TDS is to be deducted...so whther it be an asset or expense.. no matters...

and we will obviously pay it now i.e. in the current FY and not the Previous FY

plz clarify on pt. 2 , wat amt to consider in which FY

You must debit the amount as on 31/03/2010. This is allowed under AS-4. However, TDS shall also be deducted on 31/03/2010.

the instalatin work  completed,and bill was received

then we have to pass entry for that transaction

we must give credit to that party,so payment of tds will require on that,i think the tds payment will be made on or before 30.6.2010 for credits given on 31.3.2010(once verify the section and do it)

which section? I cudnt find it , I have read the whole chapter.

The due date is 31/05/2010. Refer Rule 30 of the Income Tax Rules, 1962.

Due date is 31/05/2010. Refer Rule 30 of IT Rules.

Previously i told that due date is 30.6.2010 (this is 31.5.2010 only)

TDS needs to be remitted with in one week from the last day of the month which applies to 194, 194C, 194J, 194I, 195. But, you will have 2 months time for the amount credited / provisioned on last day of the Financial year for other 194C, 194J, 194I, 195 etc and not applicable to 194-Salary TDS. ex: If you are crediting / provisiong on 31st Mar, you will have time to remit till 31st May.
 

TDS needs to be remitted with in one week from the last day of the month which applies to 194, 194C, 194J, 194I, 195. But, you will have 2 months time for the amount credited / provisioned on last day of the Financial year for other 194C, 194J, 194I, 195 etc and not applicable to 194-Salary TDS. ex: If you are crediting / provisiong on 31st Mar, you will have time to remit till 31st May.
 

TDS needs to be remitted with in one week from the last day of the month which applies to 194, 194C, 194J, 194I, 195. But, you will have 2 months time for the amount credited / provisioned on last day of the Financial year for other 194C, 194J, 194I, 195 etc and not applicable to 194-Salary TDS. ex: If you are crediting / provisiong on 31st Mar, you will have time to remit till 31st May.