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TDS Not deposited

This query is : Resolved 
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(Querist)
08 July 2009 Hai experts

Wn a company paid amount to contractor without deducting TDS which is work in progress can it show unter W-I-P?

Is it capitalised next year?
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Ratan Sharma

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Ratan Sharma (Expert)
08 July 2009 Hi,
Even if it is treated as WIP , you will have to deduct the tax. payment to contractor whether for the revenue expenditure or capital expenditure is liable for TDS.
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CA Suresh Choudhary

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CA Suresh Choudhary (Expert)
08 July 2009 TDS should be deducted at the time of making payment or crediting the parties account whichever is earlier.
So in your case you are liable to TDS irrespective of the fact whether its revenue or capital expenditure.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
08 July 2009 In my opinion, Tax is not to be deducted on Capital Expenditures since there will not be disallowance of any expenditure.
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