TDS on advance payment to Contractors and Professionals
This query is : Resolved
15 March 2024
Whether TDS needs to be deducted on advance payment made to Contractors and Professionals.
For eg) I paid 100% advance on 28th Jan for the services to be received on 15th Feb , Whether I should deduct TDS while making advance payment and remit the same to government before 7th Feb?
For eg) I paid 100% advance on 28th Jan for the services to be received on 15th Feb , Whether I should deduct TDS while making advance payment and remit the same to government before 7th Feb?
15 March 2024
Yes, you should deduct TDS on advance payment and remit the same before 7th February.
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