Deduction of TDS
This query is : Resolved
24 January 2008
Can we deduct TDS from first bill of the
party is their any limitations or slab for deducting TDS, reply soon , thank you.
party is their any limitations or slab for deducting TDS, reply soon , thank you.
S.Srinivasaraghavan
(Expert)
25 January 2008
you can deduct TDS from the first bill of the party, if you are satisfied that payments to them will be beyond 'no liability to TDS'limit. The limits, rates and conditions vary depending upon the nature of payment.
25 January 2008
YES FROM FIRST BILL YOU MAY DEDUCT TDS.
EVEN IF YOU PAY ADVANCE TO A CONTRACTOR ,TDS IS LIABLE TO BE DEDUCTED.
NO SLAB SYSTEM FOR TDS .
R.V.RAO
EVEN IF YOU PAY ADVANCE TO A CONTRACTOR ,TDS IS LIABLE TO BE DEDUCTED.
NO SLAB SYSTEM FOR TDS .
R.V.RAO
Devendra Mishra
(Expert)
25 January 2008
If the liability for TDS exists you can deduct.
25 January 2008
TDS will be deducted from the first bill onwards or from the payment of advance without any slab rates.If you are satisfied that the amount is not exceeded the certain prescribed limit there is no need to deduct TDS.
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