26as
This query is : Resolved
09 July 2013
what is the difference between date of transaction and date of booking in 26 as.
09 July 2013
Date of Transaction means Date of payment or credit which ever is earlier.
Date of booking means the date on which return is processed and amount booked in 26AS. This date will be a date after the TDS return is filed.
Date of booking means the date on which return is processed and amount booked in 26AS. This date will be a date after the TDS return is filed.
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Guest
Guest
(Expert)
10 July 2013
10.07.2013
Dear Vilas,
International Accounting Standard (IAS-26) defines "date of transaction" as the date on which the contract between the parties is accepted, confirmed and acknowledged. "Date of booking" is the date of recording the transaction in the books of A/cs.
Explanation : If the persons / set-ups involved operate in an EDP environment, both the dates can be one and the same. In case of books of accounts manually maintained, the two dates are likely to differ.
Regards,
Dear Vilas,
International Accounting Standard (IAS-26) defines "date of transaction" as the date on which the contract between the parties is accepted, confirmed and acknowledged. "Date of booking" is the date of recording the transaction in the books of A/cs.
Explanation : If the persons / set-ups involved operate in an EDP environment, both the dates can be one and the same. In case of books of accounts manually maintained, the two dates are likely to differ.
Regards,
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