Deepak Tapse (Accounts Manager - Taxation) (1771 Points)
26 December 2014If agreement is Rs. 65 L which we have to pay within next two years as per schedule mentioned in agreement. In this regards, can we deduct one time TDS on entire agreement value i.e 1% of 65 L while making first payment? say, Rs. 500000/- Less TDS Rs. 65000/-
giri
(Student CA Final )
(32 Points)
Replied 31 December 2014
yes, TDS must be deducted at the time of Credit to any account whatsoever it may be called or payment whichever is earlier...
CAclubindia
