TDS ON PAYMENT OR CREDIT BASIS
Querist : Anonymous
A CREDIT HAS BEEN MADE FOR CONTRACT FEES OF Rs. 200000/- ON 14/08/2009
AND CONTRACT FEES HAS BEEN PAID ON 18/10/2009.
THEN TDS DEDUCTED SAY @1% RS. 2000/- WHEN TO PAY TO GOVERMENT.
WHEATHER ON 07/09/2009 OR ANY OTHER DATE.
IF PAYMENT IS NOT MADE THEN HOW ONLY TDS CAN BE PAY TO GOVERMENT.
ALWAYS TDS WILL BE DEDUCTED ON PAYMENT OR CREDIT WHICHEVER IS EARLIER.
I.E YOU HAVE TO DEDUCTED TDS ON 14 AUG 2009 ITSELF AND DEPOSIT IT TILL 7TH SEPT 2009.
EVEN IF PAYMENT IS MADE 31ST MARCH, THEN ALSO YOU HAVE TO DEDUCT TDS AND DEPOSIT TO GOVT. A/C.
Obviously August 09 TDS has to be deposited by 7th Sept., irrespective of fact whether payment has been made or not.
Querist : Anonymous
Querist : Anonymous
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