TDS tax payment

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.
Replies (6)
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.

Tds process.
all bills are not subject to tds.
But this bill subject to TDS and we deduct TDS.
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
Yes it is service invoice and I've been received services in the said month. can I consider invoice date for books of accounts.
You need to book invoice on 07.11.20
Then consider earlier date i.e. your invoice receiving date

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register