Booking of bill for tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 April 2016 Dear All,
Plz clarify my doubt.
Assume i have received the rent bill on 10/3/2016 and the bill date is 28/2/2016,
however we will book the bill on 10/3/2016 for TDS purpose....query...if we booked the bill on 10/3/2016 then TDS payment due date will be 30/4/2016, suppose if i couldn't made the payment
Till 30/4/2016 then we can book this bill after
30/4/2016 also claiming that we have receipt
this bill after 30/4/2016..

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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02 April 2016 In my view if you have received bill of February'2016 with date 28.02.2016 then you need to booked on 28/02 and deduct tds by entry and have to deposit tds on or before 07/03.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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02 April 2016 after 30/04 it will change the financial year where your transactions not belongs to. so you can't go in F.Y. 2016-17. Yes it is 30/04 for deposit of tds not for booked any bill and also It will not about when you are going to pay the bill but it depends on when you booked or make provision.

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CA SUNIL K GARG

CA SUNIL K GARG (Expert)
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02 April 2016 If you will claim this bill after 30/4/2016 i.e. in next financial year, it will be treated as prior period expenditure. So you should claim this bill in same financial year by paying amount of TDS along with interest on late payment of TDS and you have to Revise the return for errors and omissions