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194c

Swami Ayyappa Nuli (TAX ADVISOR & CONSULTANT AT G.S.T SUVIDH) (1372 Points)

04 December 2013

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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31 Replies

CA Deepesh Ruhela (Keen to Learn) (3271 Points)
Replied 05 December 2013

Yes, liable to deduct TDS

Originally posted by : e.filer B.Com/ Hyderabad
	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.

Mihir (Wealth Manager) (5293 Points)
Replied 05 December 2013

Deduct TDS.

saudbelim (Accountants & Tax Practitioner) (36 Points)
Replied 05 December 2013

If u r proprietor & get tax audit & u r partnership firm, company to eligible to deduct tds

*RENU SINGH * (✩ §m!ℓ!ñġ €ม€§ fℓม!ñġ ђ♪gђ✩ ) (21627 Points)
Replied 05 December 2013

Undoubtedly yes

Ashok Kumar V (Audit Assistant) (77 Points)
Replied 05 December 2013

Deductible in the cy

Pritesh Barola (Director) (21 Points)
Replied 05 December 2013

Yes u/s 194 C.....payment to contactor...in the case of individual contract on maximum 30000...tds must be deducted

akhtar hussain (ca) (52 Points)
Replied 05 December 2013

Yess I doo agree wid alll

Santosh singh (student) (22 Points)
Replied 05 December 2013

No doubt deduct the tds as per nature..

ACS Gaurav Jain (company secretary) (551 Points)
Replied 05 December 2013

Late deduction also alowed but you have to pay intrest on late deduction.

rahul sharma (Accounts) (41 Points)
Replied 05 December 2013

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