vinayak c. chavan (CPT passed) (1011 Points)
06 June 2012
I have received bill of Professional fees of Rs.8100 for the month of Feb, March & April 2012. How should i account it? I have received this bill of 6th June 2012. On what date should I post entry for this transaction? I want to deduct TDS also on this transaction.
V P Narasimhan
(Accounts Manager)
(791 Points)
Replied 27 November 2012
Dear
If you are aware of the TDS (limit) & which will come automatically in Payment you can very well pass entry since as per TDS rule which has to be accounted wither at the time of payment or advance or at the time of accounting "which ever is earlier"
Rishabh Mishra
(Student CA Final )
(44 Points)
Replied 29 November 2012
in your case entered it d date whichever is earlier
no matter when it would b received
CAclubindia
