TDS deducted in March on advance payment
This query is : Resolved
27 March 2025
In the month of March 2025, advance payment is made to a consultant on the basis of Performa Invoice and TDS is deducted at the time of making the payment.
My question is when should the TDS be deposited against consultancy? In the month of March or later at the time when the bill is received?
My question is when should the TDS be deposited against consultancy? In the month of March or later at the time when the bill is received?
27 March 2025
The obligation to deduct TDS arises when the payment is made or credited, whichever is earlier. In your case, since the payment is made in March 2025, the TDS deduction obligation is triggered then. TDS deducted on the advance payment to the consultant in March 2025 must be deposited within the prescribed timelines for TDS deposited in the month of March.
28 March 2025
Thanks for the update.
In case we deposit the TDS according to the timelines of March, then how do we show in the TDS return of Quarter 4- by giving reference of the PI instead of the invoice number? , as the invoice will be received in the next financial year
In case we deposit the TDS according to the timelines of March, then how do we show in the TDS return of Quarter 4- by giving reference of the PI instead of the invoice number? , as the invoice will be received in the next financial year
28 March 2025
Yes, as advance against the PI...
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