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TDS on Monthly Provisions for Third Party Payment for Factory Worker Salaries
Our Factory worker salaries paid by consultant and they provide bills and we make monthly provision for and booked the same bill when we get from that consultant so when we liable to deduct TDS at the time of making provision or time of booked the same bill...?
Replies (3)
TDS has to be deducted at the time of making provision on current month if you are booking the bill on next month.
Need to deduct against whichever transaction is earliest.
Generally provision has to be made on receipt of the bill at the month end even it is not certified and tds to be estimated and paid.
Suppose I made provision 0n 31 st january and get the bill on February and Bill date is 05.03.2022
then when I deducted TDS ?
then when I deducted TDS ?
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