03 June 2009
If I got the Bill for exps Amounted rs 22,000 which contains exps of F.Y. 2008-09 15000 and 5000 exps. for F.Y.2009-10....Should I make tds on paying this consolidated Bill...this bill dated of current financial year...
03 June 2009
Technically the expenses of F.Y.2008-2009 be stand payable on 31.03.2009 and the rest should be booked in the next year. If you do this treatment, NO TDS shall be deducted
04 June 2009
But the biil was not avaible on 31-3-2009.Int shown date of may 09.And I think as per TDS rules due or Pament basis whichever is earlier and the Exps. due as per bill dated on May...So I think Tds should be deducted.....
05 June 2009
In my opinion it is not necessory that the bill should be available on 31.03.09 to account the same in the FY 2008-09. If the expense relates to FY 2008-09 you should account the same in that FY itself and tax should be deducted accordingly. Since expense for the year was only 15000(If your transaction is in the nature of contract u/s194C), you need not deduct tax at source.
CAclubindia
