Tds will be applicable on advance payments


(Querist)
11 February 2019
Dear Sir,

in a individual firm paid the advance payment to a contractor, in this transaction TDS is applicable or not,

please suggest


CA Abhishek Goyal (Expert)
13 February 2019
Hi,

If your firm was audited under Income Tax Act in previous year, TDS should be deducted on advance payment to contractors.

Thanks,
Regards
CA Abhishek Goyal


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