Dear Amir,
The liability to deduct TDS accrues with contract B. The point to be noted here is you deduct TDS for both amounts of contract A & B but the date of deduction will be the date of credit of contract B. Hence the total TDS to be deducted on 01.11.2009 for Rs 34,000 (15,000 + 19, 000). The due date of payment will be 7.12.2009.
Hope this helps.
Sahana Murthy.
Dear Amir,
The liability to deduct TDS accrues with contract B. The point to be noted here is you deduct TDS for both amounts of contract A & B but the date of deduction will be the date of credit of contract B. Hence the total TDS to be deducted on 01.11.2009 for Rs 34,000 (15,000 + 19, 000). The due date of payment will be 7.12.2009.
Hope this helps.
Sahana Murthy.
Dear Amir,
The liability to deduct TDS accrues with contract B. The point to be noted here is you deduct TDS for both amounts of contract A & B but the date of deduction will be the date of credit of contract B. Hence the total TDS to be deducted on 01.11.2009 for Rs 34,000 (15,000 + 19, 000). The due date of payment will be 7.12.2009.
Hope this helps.
Sahana Murthy.
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