Tds on advance payment to contractor
This query is : Resolved
01 March 2020
one payment of rs. 25000/- paid on 01.01.19 in advance to contractor & second payment of rs. 15000/- paid on 01.02.19 is also in advance and the bill received from contractor for rs. 40000/- on 01.03.19 later.
whether we should deduct tds on advance payment or not. both advance payments are below rs. 30000/- but single bill received later for rs. 40000/- is above rs. 30000/-.
Please clarify my query
whether we should deduct tds on advance payment or not. both advance payments are below rs. 30000/- but single bill received later for rs. 40000/- is above rs. 30000/-.
Please clarify my query
02 March 2020
No TDS applicable as single payment not exceed 30000.
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