05 February 2013
please calrify, what type of exp. if you are getting any benefit of interest then you can post any entry. like if I paid some AMC charges in advance then there is no interest portion because I will not get any discount on that. but I m getting any discount then I will treat it as income. you can msg me if you want any calrification.
Wat i was referring tat in case if i make and book the expenses in the month of Jan'13 whaich are actually pertains to the period of Apr'12 to Dec'12 what is the my liability of TDS on interest?
05 February 2013
TDS is applicable on booking or payment whichever is earlier if you paid earlier then you need to pay interest if not paid and booked in Jan-13 then in practical there is no prob. as this is booked in Jan-13 and paid also in Jan-13 or later. it is practical aspect
but if exp is interest then one can argue that it was known exp so you must give interest on delay TDS. choice is yours.
CAclubindia
