Tds
This query is : Resolved
Guest
Guest
(Querist)
29 May 2013
when the liability for tds arise
-at the time of payment or
-when it is recorded in books ie at the time of receiving the bill
-at the time of payment or
-when it is recorded in books ie at the time of receiving the bill
Silpa Agarwal
(Expert)
29 May 2013
Tax is to be deducted either at the time of credit to the account of the payee, or at the time of payment in cash, cheque, or by any other mode, whichever is earlier. 'credit' imply the credit given to the deductee's ledger account in the deductor's books.
Message likes :
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CMA Ramesh Krishnan
(Expert)
29 May 2013
yes. TDS need to be deducted on payment or accounting or credit the bills to vendor which ever is earlier
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