Sir, If we get Lower deduction certificate from vendor effected from 01/10/20. and then he submit the invoice on 05/10/20 for the month of July 220.
now am accounting in our books on 05/10/20. in this case TDS Lower deduction rate is applicable or full rate applicable because of bill related to july 20 but accounted on 05/10/20. LDC is effected from 01/10/20.
Since invoice is issued on 5-10-20, benefit of lower deduction of TDS should be given to your vendor as TDS is to be deducted based on invoice date.
Triveni Turbine Limited
Bengaluru
CA
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A R JADHAV AND ASSOCIATES
Mumbai
CA Inter
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