Deduction of tds on advance payment to contractor.

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Deepak Rawat (Querist)
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13 June 2013 Please guide,
Will TDS be deducted on advance payment to contractor? If yes then what is the limit of amount ?

CMA Ramesh Krishnan (Expert)
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13 June 2013 TDS need to be deducted on payment or booking the invoice which ever is earlier. Limit is Rs.30000 for single transaction u/s.194C

Deepak Rawat (Querist)
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17 June 2013 Thank You Sir.

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