TDS ON PART PAYMENT

Mr.Abhishek,

When you are taking whole amount as expense in the year 2008-09, you are liable to deduct TDS on total 1.5 L in the same year. Whether you are paying 1.0L or not, that is not a issue to deduct TDS.

 agree

i agree with Madhu Sudhan

agree...since date of credit into the account of payee or date of payment, whichever is earlier, is to be taken into account for TDS purposes..

TDS has been deducted on date of booking exp or, date of payment  which ever is earlier,

therefore, u should have been deducted tax during 08-09 on whole amount of exp.

if non deduction of the TDS on this exp , during the f.y 08-09  then whole exp sall be disalloud as per sec. 40(a).

as per provision of income tax act TDS should be deduct on "accrual and payment "of expenses which is earlier.As per ur question , total expenses has been recognised in profit and loss account so the tds should be deduct at the time of making the entry so it is irelevant whether it has patly paid or fully.

 TDS should be deducted on whole amount provided for in the books of accounts irrespective of payment

TDS TO BE DEDUCTED ON THE WHOLE AMOUNT.

RULE OF TDS IS TO BE DEDUCTED WHEN ANY ONE OF THE FOLL IS EARLIER

1) PAYMENT

2) ENTRY DONE IN BOOKS

yaa tds will be deducted on whole amount i.e Rs 1.5 lacs

Yaa I Am Agree With Mr. Praveen

hi

if TDS deducted on advance amt and the Balance amt outstanding,we claim a full amt as expenses during the year,our books closed on 31 march every year , Later on we Pay the balance amt dated 1st july deduct TDS on that date and deposited into the central govt, in that case the any question arise of disallowance of expenses u/s 40(a)

TO BE DEDUCTED ON THE WHOLE AMOUNT. RULE OF TDS IS TO BE DEDUCTED WHEN ANY ONE OF THE FOLL IS EARLIER 1) PAYMENT 2) ENTRY DONE IN BOOKS