Tds deductable
This query is : Resolved
04 May 2016
A society receive a bill as on 29.12.15 for contract services but society make payment as on 10.1.16.Then in such case when tds amt to be deducted either on 29.12.15 or on 10.1.16 and in which quarter this bill come for tds return.Kindly guide me in this matter.
04 May 2016
Tds should be deducted on bill or payment which ever is earlier. So TDS to be deducted 29/12/2015, TDS return to be Filled for 3rd Quarter.
04 May 2016
you have to tds deduct when you make credit the a/c or makd payment whihc ever in earlier.
in you case if credit make in dec-15,
then you have to deduct tds in dec.15
in you case if credit make in dec-15,
then you have to deduct tds in dec.15
04 May 2016
If society do practice of first booking (i.e bill date or received date) and after verifying the bills society pays bills to the concern persons that way society has to tds on booked value but if society treatment is not booked any amount before payment then society has to deduct tds while doing payments.
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