TDS RETURN Q32022

We have Deducted TDS (ADVANCE) from One Party Rs. 5000.00 (u/s 94J) , Dt. 23/11/22  now party submitted his bill Rs .50000.00 Dated 20/01/2023

Our Question is

  1. Can  We show this Transaction 26Q  Return in Q3,2022
  2. If Yes then which date mention in Date of Payment/Credit ,Date of Deduction in 26Q Return
Replies (5)
Quick Summary
This discussion addresses a query regarding the TDS return for Q3 2022. The user deducted advance TDS of Rs. 5000.00 on 23/11/2022 from a party, but the party's bill was dated 20/01/2023. The core question is whether this transaction can be reported in the Q3 2022 26Q return and, if so, what date should be used for payment/credit and deduction. The consensus leans towards using the earlier date of TDS payment (23/11/2022) for filing purposes, aligning with Section 194's 'booking or payment whichever is earlier' rule.

23.11.2022 is the date of payment
Sec 194 says booking or payment whichever is earlier.
Since payment is earlier, 23.11.2022 is the relevant date for tds filing

But Eswar Reddy sir Party Bill Dated 20/01/2023


 

Payment or bill whichever is earlier.

If tds was paid on time then you may use 23.11.2022.

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