Tax deduction at source

This query is : Resolved

CA Anil Jain (Querist)
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06 November 2007 If payment to party & deposition of TDS both in the next qtr. whether we require to revise the return or we make entry in the next qtr. date ?

CA. Rayan Sequeira

CA. Rayan Sequeira (Expert)
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06 November 2007 yes u have to revise it

KAAPIL

KAAPIL (Expert)
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06 November 2007 Yes revise it.

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CA Anil Jain

CA Anil Jain (Querist)
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06 November 2007 But u earlier told me that entry to be passed on the payment or due basis whichever is earlier?
Plz specify me with an example.
Thanks for ur valuable suggestion.

Anil Jain.

Ravikumar.G

Ravikumar.G (Expert)
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06 November 2007 Obviously you are correct Mr.Anil. Payment or credit whichever is earlier. If you had created respective journal in last month for ex 30.06.2007 you would have paid the respective TDS within 7 days of subsequent month. The respective entry would have included in your 1st quarter e-TDS return.