tds

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vijay (Querist)
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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

Ashiwini Ballodia (Expert)
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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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