25 November 2012
As per provision , it is the date of credit in books or payment, whichever is earlier. The period for interest is counted from the day of deductible, incase of not deducted and deduction date, incase of late payment... Interest is 1 and 1.5 percent respectively per month or thereof
25 November 2012
Mr Asad Date of receiving the Bill should be date of deduction.
Bill is entered on receipt of bill so date of entry cannot be earlier than that of receiving the bill.
@ Mr Amit Revankar!
Yes the provision says date of credit or payment, whichever is earlier. But it does never mean for a delayed credit or payment but in a normal business.
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