TDS on old bills

This query is : Resolved

sandeep (Querist)
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02 February 2010 Hi,

We have recd some bills for the M/O Sep 09 as on 02/01/10 .could some one please help me which rates are effective on this case? because TDS rates are changed from 01st Oct 09 & The bill date was 30/09/09.

can we deduct the TDS on new rates or need to deduct the same with previous rates.

Please help.

CA PRIKSHIT GUPTA

CA PRIKSHIT GUPTA (Expert)
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02 February 2010 TDS will be deducted on the basis of bill received or payment made whichever is earlier and provision of that time will applicable. if you have paid the party before receiving the bills than you have to apply the provisions of the month in which payment is made. otherwise provisions applicable in Jan should be follow.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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02 February 2010 agree

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Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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03 February 2010 agree to experts, its depends upon when you received bills or paid the payments who came first in your case you received bills in jan even its data was 30.09 as per our concern you have to deduct tds by new amendments in tds rules.