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Tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 December 2017 Hi sir,

If i have the same person as sundry debtors as well as creditor. Eg. X is providing transportation service to Y & Y is providing CHA service to X. so For X, Y account will show both credit & debit balance. Now my question is On X account Y need to pay Rs.15L, X payable to Y is Rs.20L. X is adjsuting their book entry and ready to make payment of Rs.5L to Y. Now Is TDS need to be deducted on Whole 20L or Payable Amt of Rs.5L.
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Expert : Anonymous

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Expert : Anonymous (Expert)
06 December 2017 Whole 20lakhs... TDS ll be deductible as on service, not in outstanding.
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Sandeep Dharar

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Sandeep Dharar (Expert)
07 December 2017 TDS will b deducted on 20L and not on 5L.



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Querist : Anonymous

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Querist : Anonymous (Querist)
07 December 2017 Thank you so much sir. But as i know TDS to be deducted at the time of making payment. Can you pls explain on this.
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Sandeep Dharar

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Sandeep Dharar (Expert)
07 December 2017 No, its date of payment or date of credit in books of accounts whichever is earlier.

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