plz some one help me, if invoice date is 31st Oct-20 and receive after 7th of Nov-20 then how to book invoice in my account book. what will be TDS process if no advance received from creditors.
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Quick Summary
This discussion clarifies the process for booking invoices and deducting TDS (Tax Deducted at Source) when dealing with service invoices. The key takeaway is that the TDS date is determined by the earliest of the invoice date, service receipt, or advance payment. For booking the invoice in your accounts, it should be recorded on the date you actually receive it, which in this case is 7th November 2020.
Is your invoice related to any service? in this case---- a) service received b) invoice c) advance received which ever is earlier will be considered as tds date