Hiii frnd
Can any one clarify my doubt. one the client (status company) payings its Rent for the month of Dec on 7th Jan an deducts TDS on it. So in which quarter this TDS falls n 4th quater (15 may) or 3rd quater (15 jan)?
6 Replies
neeraj
(CA)
(930 Points)
Replied 15 December 2010
iF he is booking expenses on 31st Dec (i.e.Rent payable a/c) then it is for 3rd qtr but if he is making only a payment entry (i.e. Rent to cash a/c) on 7th Jan then it is for 4th qtr...... I think so.........
Divya.M
(CA Final Student)
(274 Points)
Replied 15 December 2010
Even i think tat it s correct accountg 2 book for d expenses even payment s not made. so it falls on 3rd quarter. so i agree with Chandinilani
neeraj
(CA)
(930 Points)
Replied 15 December 2010
Yes u r r8 company must book exp. on 31st dec and so deduct TDS on 31st dec.
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