tds on advances
This query is : Resolved
CA Surya Desraj
(Querist)
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
(Expert)
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.
Answer to both the question is "Yes".
However, the tax amount has to be reimbursed by the deductee, not ther deductor.
O.D.SHARMA
(Expert)
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 .
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