Interest on tds
This query is : Resolved
05 February 2013
Dear Experts,
If am paying the expenses in the month of Jan'13 which are realating to Apr'12 to Dec'12 should i calculate the Interest also or not.
Even expenses have been accounted & paid in the month of Jan'13
Regards
If am paying the expenses in the month of Jan'13 which are realating to Apr'12 to Dec'12 should i calculate the Interest also or not.
Even expenses have been accounted & paid in the month of Jan'13
Regards
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.
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.
05 February 2013
Dear Prashan,
Thanks for your mail.
Probobaly your not getting my q
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?
Regards
Thanks for your mail.
Probobaly your not getting my q
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?
Regards
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.
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.
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