tax duducation at source
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TDS
| Originally posted by : CA Akhilesh | ||
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at the time making of advance payment tds shall be deducted on the amount paid as advance and at the time of full and final payment TDS shall be deducted on balance amount.......since tds to be deducted on at time of credit of bill or making of amount whichever is earlier....... |
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Agree with CA Akhilesh & future ca..
TDS would be deducted on gross amt whereby it exceeds the threshold limit of Rs.30000 in pursuance of single contract.
In case at the time of advance payment it was not deducted by any reason then adjusted the entire liab. of TDS of Rs.5200 (260000 @ 2%) at the time of making final payment
Is it liable for payment of interest for late deduction?
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