Should TDS be deducted while making an advance payment to a vendor or should be it deducted at the time of bill booking or both? Give reasonsShould TDS be deducted while making an advance payment to a vendor or should be it deducted at the time of bill booking or both? Give reasons
Menu
Tds
Replies (2)
There is no TDS on any purchase, it is on service such as commission, contract, professional fees etc. TDS is always applicable on payment or credit whichever is earlier.
Yes,,,,,, You should deduct TDS against advance payment if you are liable to deduct TDS as per govt . Rules agaist your vender service and supply work ,,,,,,,,Good Luck!
Recent Threads
- Where to know latest GST HSN Codes and their Rates
- Hsn code and rate cnsl crude oil
- Clarification required on taxation of income from
- Pension Income up to Rs.1,66,250 per month equal t
- Reappointment of Managing Director in a private li
- VAT deducted by Saudi company
- RCM doubt please clarify
- Should open NRO account?
- Which IT section applicable for cash transaction i
- ITR -property dealer
Related Threads
CAclubindia
