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194c

TDS 1413 views 31 replies
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TAX ADVISOR & CONSULTANT AT G.S.T SUVIDH
1372 Points Posted on 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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On 04 December 2013 at 21:52 Report
Replies (31)
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Keen to Learn
3271 Points Posted on 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.
 

 

8 Reply
On 05 December 2013 at 07:26
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Wealth Manager
5293 Points Posted on 05 December 2013

Deduct TDS.

13 Reply
On 05 December 2013 at 07:32
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Accountants & Tax Practitioner
36 Points Posted on 05 December 2013
If u r proprietor & get tax audit & u r partnership firm, company to eligible to deduct tds
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On 05 December 2013 at 09:28
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✩ §m!ℓ!ñġ €ม€§ fℓม!ñġ ђ♪gђ✩
21627 Points Posted on 05 December 2013

Undoubtedly yes

301 Reply
On 05 December 2013 at 09:43
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Audit Assistant
77 Points Posted on 05 December 2013
Deductible in the cy
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On 05 December 2013 at 12:00
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Director
21 Points Posted on 05 December 2013
Yes u/s 194 C.....payment to contactor...in the case of individual contract on maximum 30000...tds must be deducted
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On 05 December 2013 at 12:00
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ca
52 Points Posted on 05 December 2013
Yess I doo agree wid alll
1 Reply
On 05 December 2013 at 12:00
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student
22 Points Posted on 05 December 2013
No doubt deduct the tds as per nature..
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On 05 December 2013 at 12:01
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company secretary
551 Points Posted on 05 December 2013
Late deduction also alowed but you have to pay intrest on late deduction.
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On 05 December 2013 at 12:01
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Accounts
41 Points Posted on 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
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On 05 December 2013 at 12:02
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company secretary
551 Points Posted on 05 December 2013
Also make in mind this is inreverse charge of service tax.. If you are body corpoarte you hav to pay service tax
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On 05 December 2013 at 12:03
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Chartered Accountant
815 Points Posted on 05 December 2013

Yes, at the time of payment or debit.

1 Reply
On 05 December 2013 at 12:04
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assistant
25 Points Posted on 05 December 2013
yes u are liable to deduct tds
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On 05 December 2013 at 12:07
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Chartered Accountant
25 Points Posted on 05 December 2013
Yes booked or payment whichever is earlier
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On 05 December 2013 at 12:11


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