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TDS on Monthly Bills

Krishna Prasad (Accountant) (75 Points)

06 May 2020

Dear Experts.,
My query is april month's maintenance charge bill recieved on May 5..
So TDS is deductible on May 5 and should be remitted by June 7.
Is following this system is right?

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3 Replies

Praveen Jain (CA) (27 Points)
Replied 06 May 2020

Yes, right

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Krishna Prasad (Accountant) (75 Points)
Replied 06 May 2020

But in the year end there will be two entries.. one is feb month's bill and another is Provision entry for March..

PRABIR PAUL (*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.) (1448 Points)
Replied 06 May 2020

If you are receiving monthly service and want to credit month account due. Then there is no problem in same financial year. You make the due entry April or May (bill date) not an issue.