tds
This query is : Resolved
17 October 2017
exp incurred rs. 800000 and booked via entry
exp .......dr. rs. 800000
To creditor rs. 800000
and payment made rs. 500000 (inclusive of rs. 10000 as TDS ) and keep liability of rs. 300000
my query is that on what amount TDS would be applicable. since TDS has not booked at the time of booking creditor. can company deduct TDS at the time of making partly payment does it consider as any violation of provision
Ashiwini Ballodia
(Expert)
17 October 2017
Company can deduct TDS at the time of payment but you have to pay interest @ 1% Per month on 5L for late deduction of TDS
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