Tds deduction applicability
This query is : Resolved
Guest
Guest
(Querist)
18 December 2013
Is TDS deducted on Advance Payments to Suppliers.If so which section & rate of deduction
Ganeshbabu K
(Expert)
18 December 2013
IF ADVANCE IS MADE AGAINST PURCHASE OF MATERIAL,, TDS NOT APPLICABLE
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PROVIDE TRANSACTION DETAILS--FOR WHAT YOU HAVE MADE ADVANCE
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PROVIDE TRANSACTION DETAILS--FOR WHAT YOU HAVE MADE ADVANCE
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Guest
Guest
(Querist)
19 December 2013
they hav made adv to Pur of RM.So not applicable.If they made for any Services rcvble/contracts in future then whether to deduct TDS?.If yes then which section
Ganeshbabu K
(Expert)
19 December 2013
yes if suppose you have made payment to contractor in advance 194C applicable
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if you made payment against professional or technical consultancy 194J required to be deducted
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however which are in re-imbursement in nature tds not applicable
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if you made payment against professional or technical consultancy 194J required to be deducted
.
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however which are in re-imbursement in nature tds not applicable
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