advance paid to civil engineer. for doing the work ,wether payer is liable to deduct tax u/s 194j on advance payment plz tell its urgent
4 Replies
Anshul Jain
(Article)
(33 Points)
Replied 07 March 2012
yes..We are liable to deduct TDS on advance payment also.Under Sec 194J TDS rate is 10% .No TDS is required to be deducted for amount less than Rs 30000/-.
ashish gupta
( student)
(1922 Points)
Replied 07 March 2012
Yes you have to deduct TDS on advance payments
RUPESH CHOUDHURY
(Student)
(484 Points)
Replied 07 March 2012
TDS deduction u/s-194J is "Payment or Credit whichever is earlier" basis.
CA PRAVEEN SINGH
(MANAGER ACCOUNTS)
(2277 Points)
Replied 08 March 2012
YES AGREE WITH ABOVE....
BASIC PRINCIPLE OF DEDUCTION TDS IS...
CASH PAID OR A/C CREDITED (WHICH IS FALL EARLIER)
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