Tds
This query is : Resolved
08 March 2014
Sir,
We are a Pvt limited company in construction . We have engaged some sub contractors at Maharashtra site.
Point No, 1. We have given the sub contractors some Advance payment more than 30,000.00 but we have not deducted the TDS.
Point No. 2 Only few Sub contractors have given us the bills but rest of other have not submitted in that case what we have to do.
How we will have to pay TDS , based on advance payment or once the bills received.
Kindly suggest
Thanks
Sushant
Sir,
We are a Pvt limited company in construction . We have engaged some sub contractors at Maharashtra site.
Point No, 1. We have given the sub contractors some Advance payment more than 30,000.00 but we have not deducted the TDS.
Point No. 2 Only few Sub contractors have given us the bills but rest of other have not submitted in that case what we have to do.
How we will have to pay TDS , based on advance payment or once the bills received.
Kindly suggest
Thanks
Sushant
08 March 2014
You have to deduct tds on every advance payment of subcontractors. Now you can deposit the tds on advance amount 30 lacs and debited to party account.. the amount will be adjust from upcoming bills.
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
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- 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
- Capital Gains on sale of residential flat
- F & O PROFIT REPORTING FOR AY 2026-27
- 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
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
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
