Re: [aurangabad_ca] Query : AY for which TDS to be paid ?

Wednesday, March 3, 2010 8:41 AM By Livemail

 

Dear Sir,
 
 * You have to mention A. Y. 2010-11 when you pay TDS
  
     As per rules payment or billed amount whichever is earlier deduction have to made.
 
* The Person receiving payment can claim TDS in A. Y. 2011-12 
 
 
--- On Tue, 2/3/10, Sunil D <sydandekar@yahoo.com> wrote:

From: Sunil D <sydandekar@yahoo.com>
Subject: [aurangabad_ca] Query : AY for which TDS to be paid ?
To: aurangabad_ca@yahoogroups.com
Date: Tuesday, 2 March, 2010, 10:49 PM

 
Dear Members,

Facts of the case -
  • My client is making advance payment in the month of March 2010 for the work to be executed in FY 2010-11.
  • TDS is to be deducted from the advance payment u/s 194C
Query -
  • What should be the AY mentioned on the TDS chalan while making TDS payment? is it AY 2011-2012 ?
  • If it is AY 2011-2012, can i make TDS payment for the FY which is not yet started ?
  • If it is AY 2010-2011, can the person receiving payment can claim TDS claim in AY 2011-2012 being income of that year.
Please give a reply with the supporting arguments and rules or any supporting circular, judgment etc. for the same.

Thanks



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