I make payment of rs 45000 to contractor of providing manpower services as advance for the next year,am i liable to deduct T.D.S in the current year?
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194c
Replies (31)
Yes, liable to deduct TDS
| Originally posted by : e.filer B.Com/ Hyderabad | ||
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YES.Time of payment and / or debiting as an expenditure whichever occurs first is the criteria. No where it is mentioned about the period for which it is paid / received. |
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Deduct TDS.
If u r proprietor & get tax audit & u r partnership firm, company to eligible to deduct tds
Undoubtedly yes
Deductible in the cy
Yes u/s 194 C.....payment to contactor...in the case of individual contract on maximum 30000...tds must be deducted
Yess I doo agree wid alll
No doubt deduct the tds as per nature..
Late deduction also alowed but you have to pay intrest on late deduction.
Yes, deduct tax
TDS is deducted when the payment is made or income is credited to the account of payee which ever is earlier
accordingly in your case, you made payment in advance instead of credit the income to the account of payee. Liable yo deduct tax
Also make in mind this is inreverse charge of service tax.. If you are body corpoarte you hav to pay service tax
Yes, at the time of payment or debit.
yes u are liable to deduct tds
Yes booked or payment whichever is earlier
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