When is actually TDS required to be deducted and paid practically...? Suppose i receive an Invoice from a consultant in december 2017 and I pay the amount to the consultant on January 2018, when am i suppose to deduct and pay tax...??
When is actually TDS required to be deducted and paid practically...? Suppose i receive an Invoice from a consultant in december 2017 and I pay the amount to the consultant on January 2018, when am i suppose to deduct and pay tax...??
tds is deducted and deposited-account credited in the books or paid which ever is earlier. as u have received the bill in dec, u will account it for in dec while passing tds entries simultaneously & then will deposit the tds by 7th jan
TDS should be deducted, either on credit or payment whichever is earlier. i.e if you book invoice first - tax should deduct tds
or
if you make payment first : tax should be deducted at this point
Thank you
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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