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Tds

This query is : Resolved 
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(Querist)
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
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Hemant Kumar

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Hemant Kumar (Expert)
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.
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