article
257 Points
Joined July 2011
Sir/Mam,
I think TDS is applicable on payment basis only in case of Salary.
Suppose - Salary for the month of March is paid in June
March
Salary Expenses Account Dr. 10000
To Salary Payable Account 10,000
June
Salary Payable account Dr. 10,000
To TDS Payable 1,000
To Employee/ Bank 9,000
On or Before 07-July
TDS payable Dr. 1,000
To Bank 1,000
Suggest me Wheather i am right or Wrong.???
As TDS will be applicable only at the time of Payment and Liability for TDS will be arised only on Payment Basis.