New Amendment in TDS

TDS 275 views 1 replies

KARTHICK

EXECUTIVE-FINANCE & CONTROLLING

39 Points Joined September 2009

As per the new amendment for reduction of TDS what is the treatment for booking pending invoices raised before 14/05/2020 which is going to be booked after 14/05/20. is it applicable to deduct the old invoices in new TDS rates?.Kindly let me know .

Thanks in advance.

Replies (1)

suraj zanwar

Student CA IPC / IPCC

352 Points Joined August 2015

If you book the invoice to the credit of the party before 14th May, old rate will apply.
If you credit the invoice to the party on or after payment date of 14th May, new rate will apply