Can any body please help..................!!!!!!!!!!
We had recieved an advance from our client for completing a service contract.
When the advance was provided it was not said that any interest will be charged on this amount.
The service was rendered late from the scheduled deadline.
For the delay, the client deucted an amont from our bill stating it as " Interest on advance given"
Whether this interest will come under purview of TDS U/S 194A.????????
Should I have to deposit TDS amount with tax dept. ????????
CAclubindia
