K S Prasad (Manager Accounts) (105 Points)
05 April 2010Dear All,
TDS to be deducted for the payment made to foreign company for their services. pls clarify below mentioned points.
1. When TDS has to be deducted for payments covered under Sec. 115A (1)(b) : at the time of Booking of expenses or at the time of payments.
2.Time limit to deposit the TDS.
3 Prescribed form to issue TDS certificate to the foreign company.
CA Babit Khurana
(learning is my passion)
(338 Points)
Replied 05 April 2010
1) Tds should be deducted at the time of booking of expenses.
2) TDS should to deposited 7th day of following month
3) Form 16A is issused to party, there is no specific form given in IT ACT,1961
CAclubindia
