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Basis of deduction of TDS

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03 June 2010 My query is that if invoice from the party is dated 30/9/2009 but the client is booking the invoice in the month of October 2009, whether TDS should be deducted at the rates applicable till Sept 2009 or at new rate introduced from Oct 2009.

03 June 2010 Dear Kamini,

TDS rate to be adopted will be the rate applicable on the date of credit or payment whichever is earlier.

Regards
Kanti Jain

03 June 2010 AGREE WITH EXPERT.


04 June 2010 kantijain sir u meant to say oct rate of TDS will be applicable.

04 June 2010 YES. IF U RECEIVED THE BILL OF SEPT IN OCT THEN YOU WILL DEDUCT TDS @ APPLICABLE FOR OCT.



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