Hello sir
I have one query for Tds law
When Tds to be deducted at the time booking the invoice in the books or the invoice date of the vendor ?
I received a invoice from A on 10 th of jan and I booked that invoice on 30 th march when should i pay the tds ?
From feb or from April
Please resolve
Please Mention the nature of Transaction
Invoice of contractor 100000/-
TDS to be deducted at the time of booking of expenses or crediting the payment which ever is earliest. So in your case, TDS to be deducted when you booked the invoice in your book.
Yes, TDS will be deducted u/s 194C on the date of booking of invoice in your books or on the date of payment whichever is earlier.
In you case since you recorded the invoice on 30th March so deduction should be made on that date.
The TDS liability should be paid by 30th April for March 2021
CAclubindia
