TDS on contractor
This query is : Resolved
01 December 2008
1)what is the implication when advance is given for making furniture and TDS is not deducted, TDS is deducted when bill is booked.
2)what is the implication if TDS is not deducted when advance is given and bill is booked in susequent year along with TDS payment
what is disallowed in both the case
2)what is the implication if TDS is not deducted when advance is given and bill is booked in susequent year along with TDS payment
what is disallowed in both the case
01 December 2008
1. TDS needs to be deducted when bill is credited or amount is paid whichever is earlier. Deposit the TDS and adjust it later.
2. Nothing will be disallowed as you will book the bill in the next year.
2. Nothing will be disallowed as you will book the bill in the next year.
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