In case of any advance payments made will such an amount also be liable for TDS.
If applicable,what is the contention based on which tax needs to be deducted.
1 Replies
Bala
(CA Practice )
(63 Points)
Replied 09 July 2008
According to TDS provisions Tax shall be deducted at the time of crediting the income to the payees account or time of payment of the same whichever is earlier.
Hence TDS shall be made at the time of making advances.
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