TDS
This query is : Resolved
31 March 2010
our bldg is a co-op HSG SOC.
We are collecting Repair FUND from the members in six installments (each installment 25000 per flat)
two installments are completed. the repair work of plastering & painting of the whole bldg. has commenced.
Q. we are paying the repair contractor on ON ACCOUNT basis as and when required.
DO WE NEED TO DEDUCT TDS ON THE PAYMENT BEING MADE OR IS THERE ANY OTHER WAY, & IF NO ALREADY WE HAVE CLEARED TWO PAYMENTS,
HOW TO PROCEED...We have no TAN.
We are collecting Repair FUND from the members in six installments (each installment 25000 per flat)
two installments are completed. the repair work of plastering & painting of the whole bldg. has commenced.
Q. we are paying the repair contractor on ON ACCOUNT basis as and when required.
DO WE NEED TO DEDUCT TDS ON THE PAYMENT BEING MADE OR IS THERE ANY OTHER WAY, & IF NO ALREADY WE HAVE CLEARED TWO PAYMENTS,
HOW TO PROCEED...We have no TAN.
31 March 2010
YOU HAVE TO APPLY FOR TAN.
YOU HAVE TO DEDUCT TDS ON EARLIER AMOUNTS AS WELL. START DEDUCTING TDS AND THEN DEPOSIT THE SAME AFTER YOU HAVE RECEIVED YOUR TAN.
YOU HAVE TO DEDUCT TDS ON EARLIER AMOUNTS AS WELL. START DEDUCTING TDS AND THEN DEPOSIT THE SAME AFTER YOU HAVE RECEIVED YOUR TAN.
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31 March 2010
right sanjayji.....deposit with interest on late deducting of TDS.
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