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Tds certificate validity
Lower Deduction Certificate u/s 197 has been given by the the contractor to our Company which is valid from 5 May 2017 to 31 March 2018. Whether we will deduct lower tds from May to March bills or we will deduct TDS on payments made in May to March period irrespective of the date of invoice. Please Clarify with relevant section.
Thanks in Advance
Replies (2)
For April and may 2017 you need to deduct the applicable rate of TDS
We need to deduct TDS at lower rate for the period from may 2017 to March 2018 on payments made to him under section 197
for more details go to https://www.charteredclub.com/income-tax-form-13-for-applying-for-nillower-deduction-of-tds/
From 5th May 2017 whenever you deduct tax you have to apply the lower TDS rate. It does not matter to which period the bill pertains
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