Tds on advance in last month of FY

711 views 25 replies

arun

junior lecturer

63 Points Posted on 01 February 2024

if we are giving advance in march month and we deduct tds in march, but invoice received in april month , can we book that invoice without tds deduction.

Replies (25)

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 01 February 2024

What is the exact Service...?
Is that value under TDS provisions...?
Are You deduct TDS on March..?

If You deduct TDS on March then You can account the invoice.

Your query is not clear. So, give more clarity.

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 02 February 2024

You have to show that sum as advance in your books. You can't book invoice on earlier date .

arun

junior lecturer

63 Points Posted on 02 February 2024

My advance payment is on 25th march 2023 my invoice date is 15 april 2023. advance is for rental service and invoice is also for the same service

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 02 February 2024

You have to book it in the month of April 2023.

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 02 February 2024

@ Arun,

TDS not applicable for the advance payment for rental property.

So, You can deduct TDS for Rental payment based on months...

@ CA Rashmi Gandhi.,

Again You give blender reply.

Ask details from querist and give correct solution.

read the first query and second query...

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 02 February 2024

Just check Section 194I which requires to deduct TDS on payment not on invoice date.

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 02 February 2024

Hello Madam,

It's very bad seen from You...

Please check once the query and follow up query...

You think the advance payment for rent...

Invoice is rental service...

Advance payment is taking premises for rental purpose. The advance is not a rental service...

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 02 February 2024

I am still unable to get this query in the way you want me to understand

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 02 February 2024

Originally posted by : CA Rashmi Gandhi
	Just check Section 194I which requires to deduct TDS on payment not on invoice date.

Don't give blender reply on Urgent basis. It's create points only. But, making wrong opinion about Your attention...

Read queries and also with follow queries from querist.

Any doubts in query then ask details from querist...

Don't be rush... It's not useful...

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 02 February 2024

Wait for querist reply , may be I m not correct.

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 02 February 2024

Originally posted by : CA Rashmi Gandhi
	I am still unable to get this query in the way you want me to understand

What a reply this is...???

Still You can't understand then why give replies without understanding...

Please avoid such activities...

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 02 February 2024

I replied what I understood but you are saying that I m not getting it, so may be you may correct. But we can't do anything other than waiting for querist reply.