TDS US 194J ADVANCE PAYMENT LIABILITY

Save Share

This query is : Resolved

Quick Summary

This discussion clarifies the TDS deduction liability when advance payments are made for professional services before receiving the bill. TDS under Section 194J is applicable at a rate of 10% on these advance payments. If TDS isn't deducted at the time of the advance payment, it must be deducted when the invoice is booked.

Viral

Viral (Querist)

11 October 2022 Dear Sir, I have made Advance payment for the Professional Services & Bill received Later on. what is the Liability of TDS Deduction ? & what amount required to deduct TDS? Please, advice

Read more at: https://www.caclubindia.com/experts/tds-deduction-liability-in-case-of-advance-payment--2882824.asp

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

11 October 2022 TDS applicable on advance payment for professional services at 10%.

CA Vivekanand Pote

CA Vivekanand Pote (Expert)

13 October 2022 TDS is required to be deducted u/s 194J @ 10% on advance. If not deducted on advance, it needs to be deducted at the time of invoice booking.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now