194-I TDS deduction
This query is : Resolved
18 June 2016
rent bill of April 16 to June 16 received in June 16 ( combined of 3 months ) and payment is also made on june of 3 months when will liability arise of tds is there any interest payable for April and May month ?
18 June 2016
Bill receipt is different actual expenses related to April and May has to be booked as provision under accrual concept so while creating provision itself need to deduct TDS. TDS apply accrual or payment which ever is earlier
19 June 2016
Month on month you have to debit the expenses and accordingly make provision for those expenses and thereby deduct tax at source. Based on entry in the books you must remit the amount to the government within the due date. Liability to remit would be earlier of entry made in the books or on actual payment.
29 June 2016
Hi TDS has to be paid on Accrual basis, in your case TDS for April & May has to be with Interest.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- TDS NUMBER SURRENDER
- Offsetting interest income against derivative trading losses
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Application of 115BAC
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
