TDS core principle

This discussion delves into the core principles of Tax Deducted at Source (TDS), focusing on when it applies and the crucial aspect of depositing these funds. Participants debated whether TDS must be deposited by the 7th of the following month based on initial transaction recognition. The conversation also touched upon specific sections like 194Q and the applicability of TDS on purchases exceeding certain thresholds, clarifying that while TDS is deducted at the time of journal entries, the deposit timeline is a separate consideration.