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Regarding Tds

chetan (accountant) (321 Points)

21 April 2011

Dear Friend

If i received expense billing on 28.09.2010. and the date of bill is 28.04.2010. in such case where i consider this transaction.

in 1 QTR or 2nd QTR.

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8 Replies

Deepak Tapse (Accounts Manager - Taxation) (1771 Points)
Replied 21 April 2011

If amount paid in advance then tds tobe deducted on payment and return to be filed accordingly. If payment not given you can book expneses one sep 10.

Let see others view also.

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chetan (accountant) (321 Points)
Replied 21 April 2011

Dear Deepak

If advance payment has'nt made then.

and you have mentioned on sept 10 i can book the bill . there is any rule for that. why its on sept.10?

KIYOSH (TAX CONSULTANT) (332 Points)
Replied 21 April 2011

As you have not made advance payment than you can book expenses on 28-09-10 & consider in 2 Qtr.

PS : TDS is to be deducted at the time of payment OR credit which ever is earlier

Nayan Das (ACCOUNTS MANAGER) (981 Points)
Replied 21 April 2011

If amount paid in advance then tds tobe deducted on payment and return to be filed accordingly.consider in 2 Qtr.

Swapnil Jain (Finance - FP&A) (564 Points)
Replied 21 April 2011

Originally posted by : Nayan Das
	If amount paid in advance then tds tobe deducted on payment and return to be filed accordingly.consider in 2 Qtr.

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CA Govind Gupta (Proprietor) (152 Points)
Replied 22 April 2011

Guyzz,

there are certain issues about that which i wish hopefully able to clarify.

see the the bill is related to April 10 and that if the expense was related to the april month then the TDS is to be deducted in the 1st Qtr..

thats the correct way....

but if the return of that qtr. is already uploaded and the bill if dated of sep 10 then you can consider it in the 2nd Qtr. retrun on the basis of "Bill Credited to account".