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TDS

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(Querist)
16 July 2010 OUR PARTY GOT THE BILL ON 25.12.
09 (BILL DATED ON 26.11.09) OF ADVERTISEMENT & THE PARTY DEDUCT THE TDS ON 30.12.09 i.e. ON PAYMENT DATE & DEPOSITED ON 07.01.10 IS IT CORRECT , IF YES WHY ???
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srinath

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srinath (Expert)
16 July 2010 TDS on contract (u/s 194C) should be deducted on payment or provision whichever is earlier.
In this case since payment and provision falls in the month there would be no diff.
Suppose take an example of this
entry passed in the month of decemeber but payment made on 2.01.10 instead of 30.12.09. Then TDS should be deducted in the month of december itself and paid on or before 07.01.10
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
16 July 2010 agreed with experts.
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