TDS Related Confusion.
This query is : Resolved
23 January 2021
Invoice received from Party Invoice Date 27/10/2020.
When I Booked in Account Date 23/01/2021.
So Interest/penalty applicable in this invoice.
Please guidance.
When I Booked in Account Date 23/01/2021.
So Interest/penalty applicable in this invoice.
Please guidance.
23 January 2021
Invoice of what?????
24 January 2021
No interest and penalty applicable as you booked in accounts now only. Invoice date is irrelevant, only date of booking in accounts and date of payment is relevant for interst for late payment.
Message likes :
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26 January 2021
Agree with CA R Seetharaman Ji, TDS Liability ariese either by Booking of Expenses or Making Payment (Advance) for Expenses whicever is earlier. If you are making any advance payment for goods or services make sure to deduct TDS accordingly.
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