26 October 2023
Dear Experts, 1 A company remits the amount of Rs 25,000.00 on the date of 07-08-2023 for receiving the service from a service provider. 2 After a week, again the company paid the amount of Rs 20,000.00 on the date of 14-08-2023 to the same person. 3 After completion of the service, the service provider issues the singe invoice which bearing the taxable value of Rs 40,000.00 4 The query Whether the company has the responsibility to deduct the TDS u/s 194C Pls Clarify
Yes Sir, But in the books of accounts, the advance payment remitted to the service provider was accounted earlier than the date of invoice raised by him.
28 October 2023
Yes, At the time of payment the amount not exceeds 30k. But, the receipt of bill is exceeds the limit of 30k. At the time of payment or crediting the party whichever is earlier. So, TDS deductible based on receipt of bill.
28 October 2023
Thank you for your reponse Sir. But in this case,the payment event has occurred first.Then only, the invoice accountig has happened? At the time of remittance, it did not cross the threshole limit of Rs 30 K In the single payment. Please clarify Sir
CAclubindia
