TDS
This query is : Resolved
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 ???
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 ???
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
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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16 July 2010
agreed with experts.
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