Tds
pradeepdubey (Service) (31 Points)
23 May 2016
OUR FIRM RECEIVED THE BILL FOR THE MONTH OF APR2016 IN MAY.MY Q IS IN WHICH MONTH TDS DEDUCTION TO BE DONE
chandra
(student)
(528 Points)
Replied 23 May 2016
TDS is to be deducted
-at the time of crediting the bill to the supplier or
-at the time of payment of the bill
whichever is earlier
If you book the bill or make payment of the bill in April 2016
the TDS should be deducted in April 2016 and paid int May 2016
Hope this helps you
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 28 May 2016
Agree with Chandra Ji but i want to add some point
In few cases TDS has to be deducted while making payment to the payee (payment basis);
Except these 7 cases, in all other cases we need to deduct it at the time of credit or payment which ever is earlier.
CAclubindia
