Tds on deducted for vendor advance payment for proform invo
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 October 2015
Hi,
Please confirm do we need to deduct the TDS on Vendor for 30% advance payment on proforma a invoice.
Regards
Raj
Please confirm do we need to deduct the TDS on Vendor for 30% advance payment on proforma a invoice.
Regards
Raj
17 October 2015
Yes, TDS is required to be deducted on date of payment or date of credit which ever is earlier, hence you need to deduct TDS on advance.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
17 October 2015
Thanks but if the payment is releated to capital Expenditure like battery purchase from vendor...
17 October 2015
no tds will be deducted on advance payment for purchase of battery
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