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Tds on advance payment to contractors

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(Querist)
11 March 2016 My organisation(trust) makes advance payment to contractors of more then rs 50 lac but till no invoice is provided by contractor. If we should deduct tds on advance paymnt.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
11 March 2016 yes. TDS should be deducted on the payment irrespective of invoice received or not.
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Ankur Singhal

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Ankur Singhal (Expert)
11 March 2016 Dear
You should deduct TDs on advance amount.
As the section says deduct TDs on payment or credit in books which ever is earlier. And in your case payment is earlier.
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