Tds payment

This query is : Resolved

sakshi (Querist)
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24 May 2014 my query is that i have pay rs. 7000 Towards payment of contract amt. the bill for the same is of rs. 10000 whether tds is deducted on paid amt. or bill amt.

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Guest (Expert)

24 May 2014 TDS is deducted in earlier of the following

either on advance payment

or at the time of booking of expenses
whichever is earlier

so if u hadnt booked the expense and giving 7000 as an advance u must deduct tds on rs. 7000

and if u had already booked, then tds should have been deducted at the time of booking of expense