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TDS on provision & subsequent billing

A/c entries 284 views 2 replies

Hello,

We have provided provision of expense on Mar'20 with applicable TDS rate. Now if we receive party's bills post 14.5.20 wherein TDS applicable with abated rate of 25%.

Now what to do in this case, as we have given excess TDS credit / payment by 25% of TDS rate.

Thanks in advance.

 

Replies (2)

Entries booked in Accounts before 14th May 2020 will have normal TDS only. 

Hi do every calaculate tds using a different formulae eg. Tds on bonus has one. Or is it safe to follow cleartax or tax adda rates? I think the latter os easy.


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