Prov Entries of TDS Payable on 31st March

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When tax is deducted and amount on credited on the account of the recipient as on the last date of the accountin year (31st March) 

Time limit for deposit of tax is within two months from the last date of the accounting year (31st May)

Question is if payment made on 31st march and not mere provision, time limit for tax deposit is two month or not ?

 

Replies (11)

TDS Should be deducted on payment or credit basis.In both d case last day is 31/5

 As per finance act 2008, the due date for payment of TDS deducted in the last month of previous year(march) is the due date for filing of returns for the assessee.

This is applicable for both payment and provision.

This amendment is applicable with retrospective effect from AY 05-06.

TDS deducted/ Payment made to parties or mere Provision on 31st Mar, then TDS should be deposited to Govt by 31st May

only mrali opinion is correct and upto date

only mrali opinion is correct and upto date

In a Society as an accountant where TDS should be deducted apart from Salaries and how to file that TDS in taxation dept. Wats the process of deducing that TDS.

Tds will be appear in freight payment above Rs.50000?

Originally posted by :Murali
"  As per finance act 2008, the due date for payment of TDS deducted in the last month of previous year(march) is the due date for filing of returns for the assessee.
This is applicable for both payment and provision.
This amendment is applicable with retrospective effect from AY 05-06.
"


 

Originally posted by :Murali
"  As per finance act 2008, the due date for payment of TDS deducted in the last month of previous year(march) is the due date for filing of returns for the assessee.
This is applicable for both payment and provision.
This amendment is applicable with retrospective effect from AY 05-06.
"


 

Originally posted by :Murali
"  As per finance act 2008, the due date for payment of TDS deducted in the last month of previous year(march) is the due date for filing of returns for the assessee.
This is applicable for both payment and provision.
This amendment is applicable with retrospective effect from AY 05-06.
"


 

if provision is made as on 31march for vendor bill which was provided labour

in accounting concept  which entries are posting in the compay books and how its effect will be comes towards tds

 


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