Tds on addvance payment u\s 194c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 July 2014 I HAVE RECEIVED TDS BILL OF RS.25475 ON 30.04.2014 FORM CONTRACTOR AND MAKE PAYMENT OF RS. 55000 ON 03.05.2014

HOWEVER, THE BILL OF RS.29525 RECEIVED ON 30.05.2014

SO,1) TDS SHOULD BE DEDUCT OR NOT ?
2) TDS DEDUCTIBLE THEN ON WHICH DATE ?

PLEASES GIVE ME YOUR EXPERT IMPORTANT ADVISE FOR THIS CASE AS SOON AS POSSIBLE............

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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09 July 2014 TDS needs to be deducted on date of payment or credit whichever is earlier. So in your case TDS needs to be deducted on Advance payment of Rs 55000/- on 03.05.2014.