If an invoice is raised on the 30th of the month by my contractor and received by us in the subsequent month on the 15th, when do I pay the TDS? I have already filed the return by then. Can I not pay it in the subsequent month? Please let me know.
From India, Delhi
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From India, Delhi
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Dear Chouhan,
TDS means TAX DEDUCTED AT SOURCE. It is payable only when the amount is deducted. The deduction is made when the payment is accounted for or paid. It is not based on the bill date. Therefore, the amount of TDS deducted in a month is payable before the 7th of the subsequent month.
Regards,
VGKNAIRVKM
From India, Bangalore
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1TDS means TAX DEDUCTED AT SOURCE. It is payable only when the amount is deducted. The deduction is made when the payment is accounted for or paid. It is not based on the bill date. Therefore, the amount of TDS deducted in a month is payable before the 7th of the subsequent month.
Regards,
VGKNAIRVKM
From India, Bangalore
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