Tds deduction
Querist : Anonymous
We had received the labour contract bill on 4/3/2016 but the bill date is 28/2/2016 plz let me know when should i book this bill for tds deduction..
Regard
Rohit shah
You have to book the bill on 28/02/2016 for the purpose of TDS.
No matter when you receive the bill, the documentary evidence is the date of bill.
Querist : Anonymous
Querist : Anonymous
You have to book the bill on 28/02 itself.
The interest would be paid for 2 months @ 1.5%.
As the section says pay interest for the month or part thereof.I.e the part of the month us considered as full month.
Querist : Anonymous
Statutory audit is compulsory for all the companies, and statutory audit is done by a CA.
The due date is 30 sept 2016 for the FY ending on 31/03/2016.
Querist : Anonymous
AT the AGM the auditor is appointed for the next year.
And audit will be done before AGM is held as the audited accounts are laid in an AGM.
Querist : Anonymous
Whatelse in your opinion is audited??
pls tell.
Querist : Anonymous
WHEN YOU DID THE AUDIT UNDER COMPANIES ACT THAT IS ACCEPTABLE UNDER INCOME TAX ALSO.
aND THE AUDIT OF ACCOUNTS IS THE ASSURANCE THAT THE FINANCIAL POSITION IS ALSO AUDITED AS THE CA GIVE DISCLOSURES OF THE AS.
Querist : Anonymous
yes they are same
Querist : Anonymous
YOU ARE RIGHT.
As per statutory provisions, liability of TDS arise on the date of credit to the account or on advance payment.
Therefore even if the bill date is 28 Feb but if you book the invoice in your books on 8th March then liability for TDs should be on 8 March. Experts...
Please suggest your opinion.
Whenever you make an entry in accounts i.e via tally or SAP.
You always enter the entry after the bill date but you enter the date in tally which is printed on the bill so that the accounting entry is backed by the proper documentary evidence.
Same is in the case hence tds to be deducted on the basis of date 28/02/2016.
Click here to login now
Similar Resolved Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
