Advance Payment - How to show in TDS return
This query is : Resolved
01 July 2008
We have made an advance pymt to contractor.
Now, how to show this in TDS return since there is no Invoice therein.
Now, how to show this in TDS return since there is no Invoice therein.
03 July 2008
Hi Abhishek,
All you have to do is to show this payment on the date in which the advance given & the tds deducted on the same. I think there should not be any complicacy in showing in the return. TDS must have been deducted on the advance if that amount cross the limit prescribed by the act which is Rs.20000/- per contract.If the tds was deduted on the subsequent date then simply show net amount excluding that advance & the whole tds amount in your tds return.
Hope this will resolve your query.
All you have to do is to show this payment on the date in which the advance given & the tds deducted on the same. I think there should not be any complicacy in showing in the return. TDS must have been deducted on the advance if that amount cross the limit prescribed by the act which is Rs.20000/- per contract.If the tds was deduted on the subsequent date then simply show net amount excluding that advance & the whole tds amount in your tds return.
Hope this will resolve your query.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Under construction property in ITR
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- Presumptive income under Income tax act 2025
- TAX AUDIT QUESTION
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- LIABILITY ADJUSTMENT
- Capital Gains on sale of residential flat
- Accounting with Claude
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
