Tds deducation
This query is : Resolved
26 September 2014
I am not TDs deduct on advance payment 1/4/2014 to 31/8/2014 but bill received in 31/8/2014 so I am TDs deduction on bill base
26 September 2014
Liability to deduct TDS arises on the date of payment or credit whichever is earlier. So you need to pay interest on late deduction of TDS @1% per month since TDS was supposed to be deducted on advance payment.
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