Tds applicability

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PRAMOD PANDIT M.COM , CA FINAL (Querist)
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16 February 2012 respected experts,

we take bank finance , it disburse on 31.03.2011 same directly paid to vendors who provide service and machine. since invoice for the same received in further month say may june so when tds applicable? am i correct to deduct and pay in this AY 2011-2012 as per invoice? otherwise what problem arise?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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19 February 2012 On which amount you want to deduct tax ?

A. Interest Payable to Bank

Reply- No TDS is required.

B. Payment for machinery.

Reply- No TDS is required to be deducted.

C. On any other Transaction ????

Reply- Please clarify.

PRAMOD PANDIT M.COM , CA FINAL

PRAMOD PANDIT M.COM , CA FINAL (Querist)
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26 February 2012 respected sir, we make a payment to labour contractor and service contractors!

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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26 February 2012 Tax has to be deducted on the basis of "paid or credited which ever is earlier".
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