21 October 2009
Please tell me whether new TDS rates will be applicable for payments/bills related to July/Aug/Sept.No entry/payment made in this relation so far.
21 October 2009
As expert said, if you can book this expenses in Oct'2009 then the new rate will be applicable as you have neither credited nor paid before 01.10.2009
21 October 2009
TDS will be applicable at the time of credit or payment which ever is earlier. Since in your case you have not credited in books of accounts and no payment is made till 1/10/2009 new TDS rates will be applicable.
25 October 2009
The only thing need to be looked into is what happens if the your case selected for the scrutiny and you have explain the huge amount expenditure you debited or paid on one month ?( related to earlier period credited or paid in one month to get the benefit of lower rate of TDS)
CAclubindia
