Latest TDS rate applicable for Bill Date or Accounted Date.
example: Bill date is 30th Sep 2009. We have Accounted on 2ed Oct 2009.which rate of TDS applicable for above mentioned. pls u can give solution for me.
karthik (audit staff) (87 Points)
13 October 2009Latest TDS rate applicable for Bill Date or Accounted Date.
example: Bill date is 30th Sep 2009. We have Accounted on 2ed Oct 2009.which rate of TDS applicable for above mentioned. pls u can give solution for me.
PRAVEEN KUMAR
(MBA (Finance) B.Com.(P))
(3443 Points)
Replied 13 October 2009
Dear,
Usually you have to book the expenditure on bill date basis, but this is not possible that you will get all bills on same day when raised, so you can book the expense on the payment day as well, there is no harm in this. also you can deduct tds on the payment day and deposit in coming month. this is practically right.
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