Tds on contractor
This query is : Resolved
jitender singh
(Querist)
10 February 2012
IF A CONTRACTOR RAISE BILL ON 31.1.2012 AND THE RECEIVER OF THE BILL PASS IT ON 10.02.12 AND ALSO DEDUCT TDS ON THE BILL .
NOW WHAT AMT. OF THE TDS SHOULD BE DEPOSIT BY THE ASSESSEE
1 ACTUAL AMT OF TDS
OR
2 AMT OF TDS+ INTTEREST ON TDS
BECAUSE INV. IS RELATED TO LAST MONTH AND WE ARE DEDUCTING THE TDS IN NEXT MONTH
NOW WHAT AMT. OF THE TDS SHOULD BE DEPOSIT BY THE ASSESSEE
1 ACTUAL AMT OF TDS
OR
2 AMT OF TDS+ INTTEREST ON TDS
BECAUSE INV. IS RELATED TO LAST MONTH AND WE ARE DEDUCTING THE TDS IN NEXT MONTH
CMA Ramesh Krishnan
(Expert)
12 February 2012
Since work and invoice related to Jan-12, need to provide expenses during Jan-12 and TDS also the same time deductible. so it is late deduction hence interest is applicable
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