tds on advances

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CA Surya Desraj (Querist)
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07 August 2009 is tds deductible on advances? if yes then what about the that party refuses to perform its obligation after the payment of advance will the tax deductor need to reimburse the tax amount to the said party?

Shyam Lal Naik

Shyam Lal Naik (Expert)
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08 August 2009 Sir,

Answer to both the question is "Yes".

However, the tax amount has to be reimbursed by the deductee, not ther deductor.

O.D.SHARMA

O.D.SHARMA (Expert)
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08 August 2009 yes for TDs on advance but TDS in any case will be adjustable for party.Company have to get full amount back in default cases .

Jitender

Jitender (Expert)
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08 August 2009 to resolve this, budgst has introduced for refund of tds.

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