hi friends,
Normally the parties receives TDS cetificate after two or three months later, the TDS credit have to take on the month of received/ receipt of certificate or credit given for the month of deduction in the MONTHLY SALES TAX RETURN. Example: A issued invoice to B on 15.12.08 for Rs.11250 ( 10,000+(Vat @ 12.5% )1250) B issued TDS certificate on 21.02.08 for Rs. 1250/- which month have take the credit whether for the month of DEC -08 or FEB-09 . Kindly help on this & if any notification or circulars is there kindly give a link.
CAclubindia
