Tds on advance payment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 August 2015
Hi ,
Please let me know ,whether TDS is to be recovered on advance payment to contractor.? If yes ,how much is the TDS rate for Firm.?
Thanks
Please let me know ,whether TDS is to be recovered on advance payment to contractor.? If yes ,how much is the TDS rate for Firm.?
Thanks
Amol S Joglekar
(Expert)
26 August 2015
Yes. TDS is to be deducted on advance payment as well. The rate would be 2 % or 1% as the case may be.
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