vijaya kumar n (JOB) (488 Points)
29 June 2010Good Evening to All,
I Have one doubt regarding the TDS, we have received the Consultancy Bill on Feb 2010 but we made the payment as on April 5th 2010 and also we deducted TDS 10% for what we have made the payment
One of My friend told......In TDS payment case, whichever is earlier means either bill date or Payment, iwe need to deposit the TDS to the Govt..............................???????????????????
Above statement is true or not?????????????
chandra sekaran
(chartered accountant)
(44 Points)
Replied 29 June 2010
Yes. Your friend is correct. According to secion 194J of the Income Tax Act, Tax is to be deducted at source at the time of credit of such sum to account of the payee or at the time of payment thereof, whichever is earlier.
Shyam Lal Naik
(Service)
(6156 Points)
Replied 29 June 2010
Partly true.
It is date of credit(not bill date) or date of payment, which ever is earlier.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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