Dear Experts., My query is april month's maintenance charge bill recieved on May 5.. So TDS is deductible on May 5 and should be remitted by June 7. Is following this system is right?
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Quick Summary
This discussion clarifies the correct procedure for deducting and remitting Tax Deducted at Source (TDS) on monthly bills, specifically maintenance charges. The consensus is that TDS should be deducted when the bill is received and remitted by the due date. While year-end entries might appear as two separate items (February's bill and a March provision), the key is that if services are received monthly, crediting the account due in the same financial year, regardless of whether the bill is dated April or May, is acceptable.
If you are receiving monthly service and want to credit month account due. Then there is no problem in same financial year. You make the due entry April or May (bill date) not an issue.
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