We had deployed a consultant for rendering professional services at our customer site for which the payment was to be received after 2 months of raising Invoice.
We had put the same condition to consultant.
Since TDS payment calculation is from the date of deducting the payment, in this case we will deduct the TDS after receiving the payment i.e. after 2 months.
So I hope TDS deposit for consultant has to be done after receiving the payment??
When should be the actuall declaration of TDS? On receiving the payment Or At raising the Invoice?
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Tds payment from a company to professional consultant
Replies (3)
TDS is liable to deduct on time of payment or making of the outstanding amount in Book of Accounts whichever is earlier.
If you declare that the payment date and oustanding date is same then you need to deduct on the date of payment.
When is TDS liable to be paid? Is it on date of Invoice Or on the date of Payment
Don't look on date of Invoice.
Date of entry in Book of Accounts and date of payment whichever is earlier.
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