TDS Payment is made on Payment Basis or amount credit/paid to partyee which ever is earlier. Seven days from that date to end of that month.
Ex: 29-03-2009 Rs. 1,50,000/- rent credited to a party. But making payment to a party on 29-04-2009 & they are deducting TDS on 29-04-2009. they remitte TDS on before 7th of June 2009. isit correct this way or
They has to deduct TDS on giving credit to party date( i.e. 29-03-2009) & the remitt TDS before 7th April 2009
Which one is the correct method???????????
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