Tds applicability

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 January 2013 "A" AN ADVERTISING AGENCY N "B" THIER CLIENT.

A RAISED THREE BILL ON JUNE JULY N AUGUST OF RS 21000 EACH N PAYMENT MADE BY "B" WAS ON SEPTEMBER,AN AMOUNT OF RS 63000 BY MEANS OF CHEQUE IN A SINGLE PAYMENT MODE. MA QUESTION IS WHETHER B HAS TO DEDUCT TDS ON THE PAYMENT TO "A"??????????

Hemant Kumar

Hemant Kumar (Expert)
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22 January 2013 It depends upon Transactions..
If Company "B" has entered single transaction of all three bills in september and then giving the payments of Rs. 63000/- then TDS Should be deducted on 63000/-
but, Company "B" has entered monthwise transaction i.e. 21000 in jun, july, n augast and giving payment to Company "A" in September then no need to deduct TDS on 63000/-

Hemant Kumar

Hemant Kumar (Expert)
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Amit

Amit (Expert)
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22 January 2013 agreed with Hemant ...