TDS DEDUCTION

This query is : Resolved 

27 November 2008 Dear Sir we have booked bill in sept-08 and oct-08 without deduction of tds now we are making payment after deducting tds. So please suggest us that will we defaulter or not for tds deduction

27 November 2008 Explain the nature of transactions.

27 November 2008 Yes you have defaulted. TDS should be deducted at the time of debitinig the accounts. But you can deduct TDS at the time of payment . In that case it is better to pay interets alos tom govt for delayed period.


27 November 2008 TDS has to be made and remitted to Govt. at the time of payment or book entry whichever is earlier. If book entry it has to be paid within 4 months from the date of book entry.

27 November 2008 Do a simple thing if ur accounting software permits.
Delete those transactions and enter them in November and then remit TDS by 7th Dec.

15 October 2010 Good Day and Greeting
Mr. Nitin you gave very correct answer but will you clarify what should do in the auditing process of that transaction how auditors will be satisfy if auditor will asked for the supporting document how company will able to proceeds



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