TDS Under section-194C
This query is : Resolved
Neeraj Sain
(Querist)
11 June 2011
We paid to our Contractor excess payment in resepect supply of Material With Labour
Then We want to know it is liable to Deduct Tds U/S 194C on Excess payment.
Then We want to know it is liable to Deduct Tds U/S 194C on Excess payment.
CA PARAS BAFNA
(Expert)
11 June 2011
TDS has to be deducted on the date of payment or credit which ever is earlier.
It seems like that -You have made him excess payment as you have not credited his account before making the payment.
Now, you have made him the payment. Which may be short or excess.
In this case you have to deduct TDS on the payment basis.
It seems like that -You have made him excess payment as you have not credited his account before making the payment.
Now, you have made him the payment. Which may be short or excess.
In this case you have to deduct TDS on the payment basis.
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