is tds deductable at advance given to any party/ at what rate/
4 Replies
MAHESH GARG
(AUDIT EXECUTIVE)
(334 Points)
Replied 07 January 2013
TDS is deductible at the time of payment or credit in the books of account whichever is earlier generally.
Therefore TDS is deductible at the time of advance payment.
TDS Rate depends on the nature of transaction. So plz specify it
nayan
(article assistant)
(466 Points)
Replied 07 January 2013
ITS A ADVANCE PAYMENT TO PVT LTD CO FOR RENDERING ENGINE SERVICES. THANKS
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