I am accountant in Pvt Ltd Co. some cotractor send bill of pertainig F.Y. 2011-12. In which date of accounting entry?& What is TDS treatment? because TDS Return of 4th Quarter is filed. Please give solution.
31 May 2012
based on mercantile system of accounting, the service is rendered by the contractor in last year,hence the expenses must be booked in last year i.e.2011-12.
second, for tds , pls check whether the limit for deducting tds u/s 194c is crossed or not for that particular venor. furhter if it is crossed then pls deduct tds and deposit tds with intt as on today and revise the tds return for 4th qtr.
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