If i had made provision of profession fees in Apr09 to Oct09 period without crediting the vendor account and in nov09 i had received the invoice from Apr09 to Oct09 period, so my quesiton is whether i have to deduct tds with old rates (basic+surcharge+cess) or new rates (only basic rate)....pls suggest....
1. U didnt record the transaction at all...
2. U received bills now...
So u would have neither credited vendors account nor would have paid him...TDS deduction liability arises whenever u credit vendors or make payment w.e.earlier...
so now when u credit vendors account u would have to deduct TDS with new rates...i.e., Only basic rate....
YOGESH KAPOOR AND ASSOCIATES
New Delhi
B.Com
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V.K. Ranjan & Co(Chartered Accountants)
New Delhi
B.Com
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Vardhaman Group of India
Pimpri Chinchwad
CA Inter
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CAclubindia
