Hi all,
We got service bill from our vendor for March month & payments were done in April month after deducting TDS part.
Now we should consider this as march month TDS or april month TDS.
Thanks in advance
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TDS payment time
Replies (12)
Quick Summary
consider the bill for the month of March. So deduct tds as it is for March month
If you recorded the bill in your books in March 2022, then TDS to be deducted in March 2022
March bills generally given in April . So you may consider it as Tds for April if bill and payments are in April
The Act says payment or booking whichever is earlier.
If both are April then whichever is earlier concept doesn't work
Also keep in GST in mind if applicable.
March 3B dates due dates are gone. So you may need to book in April anyway.
Kindly confirm date of bill/ tax invoice?
Both happen at the same time rarely. if it is so it's upon the deductor to decide.
Invoice of a particular month may not be issued in the same month if it is a service oriented
It's on completion of the service. Generally as per norms all completed service invoices must be raised within 7 days after the end of month.
If the deductors (other than office of government) deduct TDS in any month, tax must be paid on or before 7th of the next month. However, the TDS deducted in the month of March can be deposited till 30th April.
The due date for the TDS deposit for March is 30th April of next Financial year. However, the due date for a Government Office is 7th March.
Time Limit to Deposit Tax Deducted at Source.
| Sr. No. | Month of TDS Deduction (considered for deduction) | Due Date of TDS deposit with Challan |
|---|---|---|
| 1 | April | 7th May |
You may consider invoice with April date and you will get time till 7th may for tds payment
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