Dear All, in my company a bill is passed for payment on 31.03.2014 after deducting TDS 2%. But the cheque was given to the party only in april 2014. Please confirm whether the TDS should be recovered based on the cheque period or the period during which the party receives the money. URGENT PLEASE
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Tds recovery and remittance
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TDS liability arise at the time of credit the invoice/ bill or payment which ever is earlier
hence your case TDS liability is in march 2014
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