Dear Experts,
I have confusion w.r.t. TDS deduction.
Scenario: Say for example vendors provides services for Apr-Jun and raises invoices only on Dec having invoice dated end of June.....
1. When to do booking of invoice?
2. If invoices is booked on receipt date and not on invoice date when to deduct TDS?
3. If monthly provision is done from Apr to June when to deduct TDS?
Request you to please provide me your valuable reply.
Thanks, Himanshu Dave
As per Point of Taxation rules, in this case, TDS has to be paid whenever invoice is raised or payment is received, whichever is earlier.
TDS has to be made at the point of credit or payment whichever is earlier. In case you pass monthly entries, then you need to deduct TDS on monthly basis. But if you are booking the invoice in December, then tax has to be deducted in december only.
Shaswat initial support private limited
Ahmedabad
CS
View Details
Aggarwal Sarawagi and Co
New Delhi
CA
View Details
Karia Overseas
Ahmedabad
CA
View Details
CAclubindia
