TDS U/s 194C

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Lakshmi Narayana (Querist)
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05 March 2010 Hi,

This is Lakshmi Narayana,

I want clarification on when the TDS has been made U/s 194C. Generally every month end we can made the provion for expenses on approximate basis, we can get the relevent expenditure bill second week of the following month
for the above situation we can not made the TDS on provisional basis because we dont know the exact amount of expenditure, if we made the tds after getting the bill it is not correct

under the above situation when we can deduct the TDS

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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05 March 2010 Dear Laksmi,

you are required to deduct TDS on the date of payment or credit whichever is earlier. You are not required to make provision on monthly basis. Prov is req to be made on 31st march. Suppose bill date is 30th april and you get the bill on 8th of may then you are required to credit the bill on 8th may and deduct the TDS on same day.

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